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FICCI-NAREDCO-Knight Frank Real Estate Sentiment Index Q4-2018

Knight Frank India in association with National Real Estate Development Council (NAREDCO) and the Federation of Indian Chambers of Commerce and Industry (FICCI), released the Real Estate Sentiment Index, which broadly captures the overall perceptions and expectations of industry leaders. The report is based on a survey of, besides others, over 150 stakeholders of the Indian real estate sector including leaders from the development and financial side.

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Overall current and future sentiment score 

  • The current sentiment score inched upwards and remains in the positive in Q4 2018. The slight improvement in the current score indicates that the dust has started to settle from the implementation of various structural reforms in the second and third quarter of 2017. The score indicates that stakeholders are in a wait and watch mode on the outcome of the long-term policy initiatives of the government. 
  • On the other hand, the optimism regarding the future of the real estate sector has come down by three points. Factors such as the looming uncertainty over the upcoming elections has been reflected in the future sentiment score

Future sentiment score 

  • Though transitory in nature, stakeholder sentiments in the coming six months have taken a slight dip in our survey findings of Q4 2018. 
  • The future scores across the regions indicate that stakeholders are holding their ground and are not as bullish over the outcome of various structural reforms in the real estate sector. The uncertainty over the overall economic scenario and the upcoming general elections in India have failed to infuse any confidence in the stakeholders. 

Stakeholder sentiment score

  • Sentiments of the financial institutions regarding the future of the real estate sector in the coming six months has come down in Q4 2018 compared to the same period in 2017. However, on the developer side, even though the future score has waned marginally, it still remains in the optimistic zone. 
  • The real estate industry’s sentiments with respect to the economy does not show any substantial change from 2019. The stakeholders are taking time to give a thumbs up to the economic performance of the country given the current political scenario. 
  • On the other hand, the stakeholder sentiments regarding the funding scenario is upbeat in Q4 2018.