Further increase in house prices possible!
If you are thinking of buying your dream home, then be ready to pay a higher price. Because the trend of increase in residential property prices may continue. At the same time, despite expensive houses, it will not have any effect on sales. Along with this, the process of launching new housing projects by real estate companies is going to continue.
The Knight Frank India-NAREDCO Real Estate Sentiment Index has been released for the fourth quarter of the year 2024 October-December quarter. In this report, concerns are also being seen among the stakeholders associated with the real estate sector regarding the concerns of economic growth among the stakeholders along with the changing global economic conditions. In the Knight Frank India-NAREDCO Real Estate Sentiment Index, the sentiment for the present and future is better than expected but the sentiment has weakened compared to the previous quarter. The current sentiment score has come down to 59 in the fourth quarter of 2024 from 64 in the third quarter. Also, the sentiment score for the future has also come down to 59 from 67 in the previous quarter. According to the report, despite these corrections, sentiment remains optimistic for both the present and the future, reflecting continued confidence in the long-term prospects in this sector.
Shishir Baijal, Chairman and Managing Director, Knight Frank India, said, "The Real Estate Sentiment Index is extremely cautious while remaining in the optimistic zone. This is happening due to the sharp change in the geopolitical situation and domestic economic conditions. He said, changes in global economic policy, especially the change in the US tariff regime, as well as the slowdown in domestic growth are forcing the real estate sector to adopt a more cautious stance. In the coming quarters, developers and investors are expected to maintain a wait and watch approach, aiming to maintain the momentum built by the sector in the last few years.
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