Anuj Puri, Chairman – ANAROCK Property Consultants
A quick look at the numbers of the first month of 2018 reveals that the market is changing for good. With new launch sales of 500 units across the top 7 cities of India in January 2018, new launch sales have doubled from December 2017.
This uptick is a major motivational boost to stakeholders who had been grappling with subdued demand for the past few years. Although a couple of months into 2018 are not a major indicator of how the markets will behave during the ensuing months of the year, they surely provide guiding cues.
As ANAROCK’s Annual Residential Report 2017 illustrates, there are certain teething troubles in the sector that is adjusting to the new ways of doing business, and a few trends are likely to stick around in 2018:
A continuing buyers’ market
With the crackdown on black money and benami transactions, stringent norms and compliances under the RERA regime, investors – and, more importantly, speculators – have been pushed out of the market.
The Indian real estate sector was extremely buyer-friendly in 2017 and presented an opportune time to ‘seal the deal.’ This trend is likely to continue in 2018 as well and may,