Low sales witnessed in Gurgaon, Mumbai in Q4
As per a report by Goldman Sachs, during the fourth quarter of 2013, the volume of residential units sold in Gurgaon and Mumbai has come down by 77 per cent and 45 per cent, respectively. However, by value sales in Bangalore went up six per cent year-on-year, while those in Gurgaon and Mumbai went down 73 per cent and 36 per cent, respectively. Price increase seems to be a major concern for the buyers. Bangalore has seen, over last four years, an average price increase of 10 per cent compared with 25 per cent for Gurgaon and 17 per cent for Mumbai.
Santhosh Kumar, chief executive (operations), JLL, a global property consultant points out that people are hopeful that with a new government better policies will be in place and prices are expected to come down.
As per the report, vacancy levels in Mumbai and NCR are at 30 per cent, in Bangalore it is at four per cent.
Source: Business Standard
Bangalore, Goldman Sachs, Government, Gurgaon, Houses, jll, Mumbai, NCR, Polls, price increase, Residential units, Sales, vacancy level
