“Market outlook had turned pessimistic in the previous quarter after the Covid-19 outbreak. March 2020 ‘Current Sentiment’ score had hit a low of 31 then. As the impact of the ongoing crisis became more apparent in the June 2020 quarter, sentiment spiralled down further resulting in an even lower score in this quarter,” the Knight Frank – NAREDCO survey findings suggest.

That said, the ‘Future Sentiment’ score climbed up to 41 in the June 2020 quarter from 36 in March 2020 quarter, indicating that stakeholders’ sentiment for the future of real estate sector is improving. North India, according to the findings, is leading the zone-wise improvement in this ‘Future Sentiment score

With some of the macroeconomic indicators showing marginal improvement and with the impending festive season in the second half of the year, stakeholders have shown improved sentiment compared to the previous quarter, albeit they have remained in the pessimistic zone. At this juncture, with expected easing of lockdown and the advent of the festive season might help to revive economic activity and propel conversion of the pent-up demand.

Source: Realty Plus Magazine