Sales of ready homes on the rise

New Delhi: Bucking the sluggish trend in overall housing sales, ready-to-move-in homes recorded an over 19 percent growth in sales in the financial year 2019-20, a PropTiger report said. A total of 64,386 completed units were sold in FY 2019-20, higher by 19.4 per cent from 53,908 units sold in the previous fiscal.

The total housing sales during the last fiscal stood at 3, 22, 667 units across nine cities, nearly 11 per cent down from 3, 62,021 units sold in the 2018-19 fiscal. "The share of ready-to-move-in inventory as a percentage of total sales rose to 20 per cent during the 2019-20 financial year as against 15 per cent in the previous fiscal, as per the housing brokerage firm's latest report 'Real Insight Q4' 2020," it said.

In line with expectations, the demand for ready-to-move-in residential properties is growing as customers have become risk averse because of uncertainties involved in the completion of under-construction flats, the report said. The demand for under-construction apartments dipped to 2, 58,281 units in the 2019-20 fiscal from 3, 08,113 units in the previous s year.