As per a recent update, the second wave of coronavirus in India has adversely affected people as well as the sentiments of future stakeholders of real estate sector.
The ‘Future Sentiment Score’ has dropped from 65 to 57 from in Jan-Mar 2021 quarter as compared to Oct-Dec 2020 quarter. This calls for concern for the real estate sector.
Also, with the increase of Covid cases, a lot of residential launches are going to be delayed. However, there is still a hope for residential market to grow or at least be steady in the next six months.
Lockdown in many cities have impacted majorly office occupancies which has resulted in a major hit in office market outlook for next six months. The second wave of corona has also added to the uncertainties about the economy. The fact that the real estate sector had seen a bounce-back post the first wave of the pandemic, is keeping the future stakeholders in positive shape.
The ‘Current Sentiment Score’ in this situation has seen a growth from last quarter’s 54 to 57 this quarter. The current sentiment has been majorly supported by commercial office and residential segments.
It is expected for real estate sentiments to weaken this quarter due to the surge in Covid cases across the country and the resultant havoc. However, rentals are expected to remain steady.