Months’ inventory, the time likely to be taken for clearing the total available housing stock, decreased to 41 months in 2021 from 60 months, surpassing pre-pandemic levels when the inventory was at 43 months in 2019, showed data from non-broking research firm Liases Foras Real Estate Rating & Research.
During the year, unsold housing units declined 3% and the current unsold stock across the top 8 cities now stands at 8.94 lakh units. It decreased maximum in Bangalore by 22%.
The unsold stock increased in Hyderabad by 42%, Ahmedabad by 9%, and Chennai by 4%, while it declined in all other cities.
The inventory overhang of Bangalore is the lowest among the tier 1 cities at 23 months, while the weighted average prices across tier I increased by 3% in 2021.
Overall sales across tier I cities during the year increased by 42%, to over 2.63 lakh units compared to last year when the sales were over 1.85 lakh. Sales in 2021, however, are still 4% lower when compared to 2019.
Sales increased in all cities in 2021 with maximum gain witnessed for Bangalore at 78%, followed by Chennai with 56% rise, Pune 54%, Hyderabad 49%, Mumbai Metropolitan Region (MMR) 35%, Ahmedabad 30%, NCR 25% and Kolkata rose 6% from a year ago.
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