Covid impact: Home sales drop 66% across nine key cities in June quarter

The supply of new housing units also decreased by 81% during the period to 11,967 units from 63,535 units in Q1 2020, as developers hardly launched any projects, with sales coming to a standstill

Sales or absorption of housing units dropped by 66 per cent across nine top cities in India in the second quarter of calendar 2020, to 21,294 units from 62,851 units in Q2 2019, according to a report by PropEquity.

The sales fell primarily as restrictions were imposed by the government across the country to stop the spread the of Covid-19.

The supply of new housing units also decreased by 81 per cent during the period to 11,967 units from 63,535 units in Q1 2020, as developers hardly launched any projects, with sales coming to a standstill.

While most cities recorded