Residential real estate shows signs of recovery in Q2

Sales figures for the third quarter of 2020 from July to September show signs of a recovery in the real estate sector. Some of this growth could be attributed to pent-up demand due to the prolonged lockdown across the country in the previous quarter. According to 'Real Insight Q3 2020', a quarterly analysis of India's eight prime residential markets by online real estate brokerage firm PropTiger.com, residential home sales aggregated to 35,132 units during Q3, an increase of 85 per cent over the previous quarter. Housing units in the sub- Rs.4.5 mn price bracket made the biggest contribution to sales during the quarter, contributing 45 per cent to overall sales. On a YOY basis, however, sales declined 57 per cent.