Score increased from 69 to 72
Developer scored a comeback to 73 Future Sentiment Score
Released in the report by Knight Frank-Naredco
The real estate sector in the country is progressing remarkably. The Real Estate Market Sentiment Score has reached its highest level in a decade. It stood at 69 in the last quarter… but it rose to 72 in Q1 of this year. This is the highest increase in the past few quarters. Additionally, the Developer Future Sentiment Score has also increased. It was at 70 in Q4 of 2023 and it reached 73 in Q1 of 2024. The stable economy, post-COVID situations, and increased profits have contributed to the high demand in the Indian real estate sector. The joint report by Knight Frank and Naredco released today also indicates this.
Residential unit sales, and office profit margins have increased by 9%. A yearly growth of 43% has been recorded in the annual predictions. The residential market is very promising in Q1 2024… 82% of those surveyed in this study expressed positive opinions. Likewise, the office market is showing signs of improvement… leasing, transactions, and rental yields have all seen optimistic trends. A strong sentiment toward credible developers is maintaining stability in the real estate sector. The sentiment score has increased to 73 in Q4 2023 and Q1 2024. As stakeholders continue to show confidence in the Indian economy, the real estate sentiment index is providing an encouraging perspective… according to Haribabu, Chairman of Naredco. The Knight Frank India Chairman, Shishir Baijal, attributed the rise in sentiment score to the country’s robust economic system.
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