On 28 Jan 2021, Business Standard, one of the India's largest English-language daily edition newspapers, released an article written by Arnab Dutta, featuring the latest results of studies made by global real estate consultant Knight Frank and India's industry bodies NAREDCO and FICCI.
The studies found that the real estate sentiments in India is at its all-time high level since late 2016. This is mainly boosted by the rebound in demand of office space and residential units.
Both the "Future Stakeholder Sentiment Index" and "Developer Outlook Index" continued their upward trend, and almost doubled from Q1'20 to Q4'20. While "Residential Market Demand" was at one of its historical low in Q1'20, it made a spectacular comeback in Q4'20, with 77% expecting the residential market demand to increase. In stark contrast, 65% expected the residential market demand to decrease in Q1'20. While pricing outlook of office space in India is not as optimistic as that of the pricing outlook of residential units, 73% still thinks that the pricing outlook for office space is expected to increase or remain the same (versus 88% in the pricing outlook of residential units).
To read the full articles, please follow the LINK to Business Standard's website. If you are living in India, now is the best time to start growing your Real Estate Network and capitalise on this positive sentiments in the real estate industry!