Regarding the outlook for the housing market, 72% of those surveyed in the fourth quarter of 2021 said that home sales will be stable for the next six months, and 75% of the stakeholders surveyed will have a new supply. There is a concern that it will decrease in the next 6 months. May go back a few months.
Knight Frank India, a real estate advisory firm, reports in its latest report that the Knight Frank FICCINAREDCO Real Estate Sentiment Index – Q4 2021 (October 2021 – December) has a current sentiment index score for the sector in 2021. It said it had risen to a record high of 65 in four quarters, despite the ongoing challenges of the third wave of COVID 19. The previous high was a sentiment value of 63 in the third quarter of 2021. According to the company, the improvement in current sentiment values is due to reduced economic uncertainty, leading to stable demand in the real estate sector. Also added that future sentiment scores, which measure stakeholder short-term to medium-term expectations, also fell from 72 in the third quarter of 2021 to 60 in the fourth quarter of 2021, but remained in the bullish territory. The Indian economy is not yet affected by the third wave of COVID.
To provide a perspective, a score above 50 indicates “optimism” of emotions, a score of 50 also means that emotions are “equal” or “neutral”, and a score below 50 indicates “pessimism”. It also shows regarding the outlook for the office market, the report also emphasizes that 61% of respondents in the fourth quarter of 2021 believe office leasing will be stable for the next six months. Stakeholder office rent outlook improved in the fourth quarter of 2021. Compared to the third quarter of 2021, 27% of respondents thought that office rents could rise in the next six months, but this time around 47% thought so. Regarding the supply of new offices, 88% of the people surveyed in the fourth quarter of 2021 believe that the supply of new offices will be stable or increase over the next six months. Regarding the outlook for the housing market, 72% of respondents in the fourth quarter of 2021 said home sales will be stable for the next six months, and 75% of the survey will be new in the next six months. We are concerned that supply may increase. The overwhelming majority around 62% of respondents, expect home prices to fall in the next six months due to the turmoil associated with the Omicron virus. Now that rising house prices have surfaced, the ongoing third wave of anxiety is affecting stakeholder sentiment. In the real estate sector, the turmoil associated with Omicron variants has not yet been felt, but stakeholders remain optimistic, but the report concludes that they are cautious about the next six months.
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