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Anuj

Anuj

Real Estate Consultant,

The apartment market is on track for recovery

12D ago 0 Replies 15 Views
According to data derived from the Urbis Apartment Essentials Report, when it comes to new apartment supply, new project launches continued to decline in quarter two, with just 23 new projects launched nationally. In comparison, 60 projects launched for the corresponding period in 2019.
“Data for the first half of 2020 follows a continued downward trend. If the current rate of launches were to continue for the remainder of 2020, this would bring the annual total to around half the volume of projects launched in 2019, which was already half the average of the previous four years,” the tracker found.

“Clearance of available inventory dropped from 15 per cent in Q1 to 10 per cent of available stock selling in Q2. The slowing speed of sales was very much expected given uncertainty in the economy and limited movement of people nationally.”

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