The ticket size of new launches in the residential segment across top eight cities saw an average decline of 14% year-on-year (y-o-y) in 2016.

This was a consequence of many developers recalibrating their market strategies that involved reducing effective cost of their property and restricted new launches in order to reduce their inventory holding.

The ticket size of new launches in the residential segment across top eight cities saw an average decline of 14% year-on-year (y-o-y) in 2016. This was a consequence of many developers recalibrating their market strategies that involved reducing effective cost of their property and restricted new launches in order to reduce their inventory holding. In majority of the cities, developers have sought to rationalize ticket sizes, especially in the high-end and luxury segments, which has been hit the most, said Cushman & Wakefield today.

In a report Cushman & Wakefield said that in accordance with the market sentiments, the total number of new housing units declined during the year by 11% to approximately 113,000 units. Of this, mid housing segment accounted for 56% of the total unit launches followed by value housing segment at 32%. On a y-o-y basis, value housing segment noted an increase of 22% to more than 36,300 units. The high-end segment, on the other hand, was impacted the most, wherein launches almost halved to 12,000 units during the year.

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