India, April 7 -- Housing sales fell 29 per cent during January-March period across seven major cities to 27,451 units while the value of unsold inventories swelled to Rs 3.65 lakh crore as buyers postponed their buying decisions amid COVID-19 outbreak, according to JLL.
The sale of residential units decreased by 29 per cent to 27,451 units in the Q1 of 2020 calendar year as against 38,628 units in the year-ago period.
"The economic slowdown aggravated by the ongoing health crisis is manifesting itself in the form of a hit to sales with buyers postponing their purchase decisions," JLL India said in its quarterly report.
This was the second largest dip in residential sales in the last five years, after Q1 2017, when the market witnessed a...