"Unrelenting liquidity crisis, lower-than-expected buyer sentiments and faltering GDP growth eventually put brakes on the overall housing growth in the second half of 2019," said Anuj Puri, Chairman Anarock Property Consultants.
According to the data, housing sales rose maximum by 22 per cent in Mumbai Metropolitan Region (MMR) to 80,870 units this year from 66,440 units in 2018.
Pune saw 18 per cent rise in sales to 40,790 units from 34,460 units during the period under review.
Sales in Delhi-NCR increased to 46,920 units from 44,300 units, while sales in Chennai rose by 4 per cent to 11,820 units from 11,340.
However, Bengaluru witnessed 12 per cent drop in sales to 50,450 units from 57,540 units.
Sales in Kolkata and Hyderabad decreased by 11 per cent each and were recorded at 13,930 units and 16,590 units, respectively, in 2019.
Average residential property prices across the top cities increased by 1 per cent in 2019 when compared to 2018 except Kolkata and NCR, where prices remained stagnant.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.