It's official: India has recorded its worst decline in real estate in a decade

It's official: India has recorded its worst decline in real estate in a decade

It's being called a "historic decline", and with good reason. The first six months of 2020 saw Indian real estate falter on multiple fronts — home sales, launches, office transactions and completions. The numbers do not make for good reading.

Knight Frank India’s half yearly report for 2020 reported that residential sales across eight top property markets fell by 54 percent in H1 CY20, as just 59,538 homes were sold between January and June. That number was 129,285 in H1 CY19. Similarly, residential launches plummeted by 46 percent as 60,489 homes were launched versus 111,175 launches last year.

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