Give Sentiments A Chance

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Hang on a sec. Before we start this, let's understand some grades. 

When it comes to the consumer sentiment index, a score of;

🙂 Above 50 indicates ‘Optimism’ 

😐 50 means the sentiment is ‘Same’ or ‘Neutral’

🤨 Below 50 indicates ‘Pessimism’.

With that sorted, you need to know that in Q2, 2021 the real estate sentiment index was at it's lowest value but within a span of 90 days, it turned around to an all time high. 

Are You Serious?

Totally. Per a joint report by Knight Frank, FICCI and NAREDCO, the sentiment in the real estate industry has not only turned optimistic but also did an all-time high number during July-September. 

In Q3 2021, the current sentiment index score rose to 63 – the best ever, after a rock-bottom score of 35 in Q2 2021. What's more is that this positive outlook is slated to trend for the next six months at least. 

What Enabled This?

First, the 8-digit calculator human memory. a robust vaccination drive and a decline in new COVID-19 cases are powering a significant revival in the commercial and residential real estate markets. 

Second, regional markets in the East, West and North are witnessing a positive response from IT and ITeS companies as well as healthcare start-ups, pushing up demand for offices and housing. 

Third, low interest rates paired with accompanying sales during the festivities has turned the outlook for the residential sector positive. 

Looking Ahead

The future sentiment index score has also risen from 56 points in Q2, 2021 to 72 points in Q3, 2021, which is, hold your breath, the highest ever in the history of the Index.

🎙 "The real estate sector has started showing signs of a sustainable recovery", said Raj Menda, Joint Chairman of the FICCI Real Estate Committee, while discussing the report.