Housing sales in 2021 likely to reach 2019 figures: CREDAI

Today’s addressed by The real estate industry could witness surge in sales in 2021 which could reach the 2019 sales figure or exceed it according to experts in construction industry who spoke at the conference themed, “CREDAI Version 2: “Reboot and Restrategize” Key aspects  that are required to transform the Indian Real Estate Landscape in the coming year.

Mr. Harsh Vardhan Patodia, President; Mr. Satish Magar, Chaiman, Mr. Boman Irani, President Elect; Mr. Pankaj Goel, Secretary were the key speakers.

It was noted that while the sector continues to face few challenges as we are witnessing the second major wave of the COVID-19 pandemic, overall the real estate industry has seen a good revival in terms of sales in both residential and commercial segment.

 Mr. Harsh Vardhan Patodia President CREDAI mentioned that housing sales that fell 40-50 per cent across 7-8 major cities last year due to the pandemic could bounce back to 2019-level this year, if there is no complete lockdown to curb the second wave of COVID-19 and more so the importance of owning a home has also been propelled by the uncertainty COIVD has brought in people’s lives.

He also added that amid the COVID-19 pandemic, the real estate industry needs to innovate and scout for new opportunities.

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