[INDIAN REAL ESTATE NEWS] Good morning, everyone. I’m Kim suhyeon staff of Kamagroup Pvt. Ltd.
Here I have an important Indian real estate news to share with you which is as undermentioned.|
An uptick in the traction of ready-to-move-in and nearing-completion properties has led to residential inventory overhang across India’s top 7 property markets dipping to a 2-year-low. Unsold inventory declined by nearly 7% from a year ago to 6.73 lakh units as on December end from 7.26 lakh units in December 2017 and 14% from 7.90 lakh units in December 2016, showed data from Anarock Property Consultants.
Inventory levels have plummeted to 33 months in at the end of December from 47 months a year ago in Mumbai, Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennaiand Kolkata. Months’ inventory measures how many months it will take for the current unsold housing stock to sell based on average monthly sales.
While inventory levels in Bengaluru and Hyderabad property markets fell to an all-time low of 17 months each, Delhi-National Capital Region still constitutes 52 months’ inventory overhang.
Read more at:
Kamagroup Pvt. Ltd.
Have a nice day.