The sentiment index in the real estate sector dropped in October-December 2022 but remained in positive zone amid geopolitical concerns and bleak global economy outlook, according to Knight Frank and Naredco.
The future sentiment index, which reflects the outlook for the next six months, improved marginally.
Real estate consultant Knight Frank and realtors' body Naredco released their 'Real Estate Sentiment Index Q4 2022 (October-December 2022) report.
As per the report, the current sentiment score moderated from 61 in Q3 2022 (July-September) to 59 in Q4 2022.
The sentiment index is based on the survey of supply-side stakeholders like developers, investors and financial institutions.
The score of above 50 indicates optimism in sentiments, a score of 50 means the sentiment is same or neutral, while a score below 50 indicates pessimism.
The moderation in sentiment was mainly on account of a bleak global economic scenario and geopolitical risks due to the prolonged Russia-Ukraine war, the consultant said.
However, the report mentioned that the continued resilience of the Indian economy and of the real estate industry has influenced an upward movement in the 'Future Sentiment Score', which increased from 57 in Q3 2022 to 58 in Q4.
Knight Frank India CMD Shishir Baijal said, The strength of domestic demand with relatively better inflationary position and nuanced monetary policy actions placed India as one of the leading performers in an uncertain global environment plagued by early recessionary trends."
Rajan Bandelkar, President, Naredco, said, The Future Sentiment Score is really encouraging and reflects the optimism amongst the stakeholders given the strong post-Covid recovery in the economy and more so in the real estate sector."
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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