‘Housing sales to grow 51% in October-Dec.’

Sales of residential properties are estimated to grow 51% across seven major cities during October-December compared with the previous quarter driven by festive demand, property consultant JLL India said.

However, demand is likely to fall 48% in 2020 due to the impact of the pandemic, it added.

According to the data, housing sales are estimated to rise at 21,832 units during the December quarter as against 14,415 units in July-September.

“GDP in July-September quarter of 2020 showed higher than expected recovery. During the same quarter, the housing market showed some initial signs of recovery as well, with sales increasing by 34% on a sequential basis.,” JLL India CEO and Country Head Ramesh Nair said in a statement.

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