NEW DELHI: Owning to upturn seen post lockdown, especially in the residential segment, future sentiment for the next six month in the real estate sector has turned positive for the first time in 2020. According to Knight Frank - FICCI - NAREDCO Real Estate Sentiment Index, future sentiment score has climbed to 52 in Q3 2020, up from 41 in Q2 2020.
However, the sentiment remained pessimistic during July-September quarter due to the COVID-19 pandemic. It recorded a significant improvement from the previous quarter low of 22 points to 40 points in Q3 2020.
Shishir Baijal, Chairman and Managing Director of Knight Frank India said, “The return of the end -users in the market, especially in the residential segment is a matter of cheer for the entire sector, as it indicates economic confidence and long-term commitments.
The festive season in Q4 is likely to support the revival in real estate sector. We are hoping that the government and allied agencies will encourage this growth with more supportive decisions.” A score of above 50 signifies ‘Optimism’ in sentiments, a score of 50 means the sentiment is ‘Neutral’, while a score below 50 shows ‘Pessimism’.