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Diwali Bonanza : Real estate market to improve

Courtesy/By: Saurav Tibrewal | 18 Oct 2017

The survey conducted by rating agency Crisil about a month ago showed no signs of improvement in the residential property market for the next 10-12 months but the sudden shift in consumer behaviour has proved otherwise. According to a new research, by ZyFin based on consumer interest index, the demand for residential properties in top 10 metro cities has improved in the month of October. The research data shows that the index improved by 2.5 points to 32.5 compared to 29.8 in August, suggesting a recovery in consumer interest after the score bottomed out in April this year. The data was based on primary data collected through survey of 4,000 consumers in 18 cities across the country representing urban consumers. The market is facing slowdown due to a combination of factors such as job uncertainty, lack of employment opportunities, concerns over delay in handing over of possession, market uncertainty etc. All these factors have contributed in decline of end user buyers and instead these consumers are preferring rental accommodations. But with the festive season kicking in and economy showing signs of recovery, the faith in real estate is re-establishing and the property market is likely to show an upward trend.

Courtesy/By: Saurav Tibrewal | 18 Oct 2017