As per the India’s first real estate sentiment index released by Knight Frank India and FCCI, the real estate market will see growth in next 6 months after a long journey of continuous fall.
According to Dr. Samantak Das, Chief Economist & Director-Research, Knight Frank India, based on the stakeholder survey results real estate market will see upward in next six months whether it is demand and supply of residential units or the prices.
Dr. A. Didar Singh, Secretary General, FICCI said that the sentiment index reflect hopefulness and confidence about the future of real estate market in next six months which would have a significant bearing on business environment and growth.
On the other hand Rajiv Piramal, Co- Chair, FICCI Real Estate Committee and VC & MD, Peninsula Land Ltd. claimed that “There remains a cautious optimism for the residential sector; the office market on the other hand is expected to be pessimistic in the coming two quarters. As business growth and employee addition remain weak in the economy, larger project completions at this time will lead to higher vacancy levels in the Indian office market”
Key Takeaways from India’s First Real Estate Sentiment Index
- Stakeholders feel the real estate market has become progressively worse compared to the last six months.
- Current sentiments tending to see the worst aspect of things across all zones.
- East and South sees hope for the growth in near future compared to the rest.
- Credit lending/ funding situation may also remain muted in the near future.
- Office market is expected to be face even worst in the coming two quarters.
- Larger project completions at the time when business growth and employee addition remain weak, will lead to higher vacancy levels in the Indian office market.
- Majority of the respondents are positive about the economic scenario and expect an improvement in the next six months.
So, what’s your takeaway, share in the comments below
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