India: Housing starts crash in first half of year

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Fordaq
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Housing starts crash in first half of year Property consultant firm Knight Frank has reported that housing starts in India’s eight largest cities fell over 40% in the first half of 2017, the biggest drop in the last seven years.

The weak market sentiment was, said the consultants, due to the lingering effects of demonetization and the problems builders are having dealing with new regulations.

The worst affected cities were the National Capital Region (NCR) and Ahmadabad which saw a drop of over 70% in starts compared to a year earlier.

On the bright side, the Knight Frank report says affordable housing contributed around 71% of the total launches in the first half of this year up from a share of 52% in the first half of last year.

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