Knight Frank India and NAREDCO survey reported that the sentiment index for the real estate sector remained positive in the April-June period, showing a notable improvement compared to the previous quarter. Furthermore, the outlook for the next six months is described as bullish, indicating optimism and positive expectations for the industry.
In collaboration with NAREDCO, Knight Frank released the 37th edition of the Real Estate Sentiment Index Q2 2023 (April-June). According to the report, the current sentiment score has risen from 57 in the previous quarter to 63, positioning it within the optimistic zone.
Knight Frank stated that the reason behind the increase in the Current Sentiment Score to 63 is the ongoing resilience of the Indian economy, even amidst a global recessionary environment. The Current Sentiment Score reflects stakeholders' outlook compared to the preceding six months.
The consultant reported that in Q2 2023, the Future Sentiment Score climbed from 61 in Q1 2023 to 64, entering the optimistic territory. This positive shift was attributed to India's macroeconomic indicators maintaining their strength, despite facing challenges on some parameters.
The Real Estate Sentiment Index relies on a quarterly survey of crucial supply-side stakeholders, encompassing developers and financial institutions. These institutions comprise banks, Non-Banking Financial Companies (NBFCs), and private equity (PE) funds.
In the Real Estate Sentiment Index, a score of 50 signifies a neutral view or status quo. A score above 50 indicates a positive sentiment, while a score below 50 reflects a negative emotion.
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