Realty market sentiment goes down severely as corona bites

New Delhi: The realty market sentiment has gone down severely, from 57 in the first quarter of 2021 to just 35 in the second quarter of 2021, according to Knight Frank-FICCI-NAREDCO Real Estate Sentiment Index.

However, the stakeholder outlook on the office market in the country witnessed improvement in the second of the current year. About 50 percent of the respondents surveyed in the second quarter have continued to expect a jump in housing project launches and sales in next six months. 

Sentiments regarding future of the realty sector stakeholders remained in the optimistic zone in Q2 2021. Interestingly, the stakeholders’ reaction to the 2nd wave of corona was not as severe as in the 1st wave. 

The future sentiment came down slightly from 57 in the first quarter of 2021 to 56 in the second quarter. 

The West zone of the country witnessed sharpest recovery in the Future Sentiment Score. In this zone, the Future Sentiment score went up to 60 in the second quarter as against 53 in Q1 of 2021.