Residential sales recover 90% to pre-Covid levels

Chennai: Residential sales in Q1 (Jan-March) 2021 recovered to more than 90 per cent of the volumes witnessed in Q1 2020 (pre-Covid) across the top seven cities, according to JLL Q1 Residential Market Update.

The cities including Chennai, Hyderabad, Kolkata, and Pune surpassed the sales volumes of Q1 2020.

Overall sales increased by 17 per cent on a sequential basis, it said and added: Importantly, sales either improved or stayed at similar levels (in Q1 2021 when compared to Q4 2020) in majority of the residential markets under consideration.

Mumbai has consistently been the largest contributor to sales in the last four quarters. In Q1 2021, Mumbai accounted for 23 per cent of the sales, followed by Delhi NCR with a share of 21 per cent.