Anuj Puri, Chairman – ANAROCK Property Consultants
- Housing sales jumped by nearly 8% in the first 3 quarters of 2018
- NBFC crisis hijacks Indian real estate’s growth story, fallout into 2019
- General elections will play a role in the sector’s fate in 2019
As we embark on the final lap of this calendar year, it is appropriate to take a quick glimpse of what has happened in the Indian real estate sector during a highly tumultuous 2018.
Given the RBI’s alternating cautious and proactive stance towards managing the overall economy, it remains to be seen if 2018 will bring any further surprises for the real estate sector. If not, we can expect fairly steady sailing until the end of the year.
2018 So Far
Residential Real Estate
The year 2018 brought with it a new ray of hope for the residential sector, with both sales and new supply gradually picking up across the top 7 Indian cities – Bengaluru, National Capital Region (NCR),
Anuj Puri, Chairman, ANAROCK Property Consultants
Green shoots of improvement in new launches; 100% month-on-month rise in new launch absorption levels
2017 has been an action-packed year, not just for the real estate sector but for the entire nation.
While the structural changes and policy reforms (demonetization, RERA and GST) shook up the economy, it imbibed financial discipline, accountability and transparency across various sectors.
As per the statistics released by Economic Survey, the Indian economy is expected to grow at 7 to 7.5% in 2018-19, eclipsing China to become the fastest growing economy.
In 2017, the performance of Indian residential real estate was lacklustre due to the sector’s transition from an unorganized to an organized one, amidst changing regulatory environment.
The big-picture reforms are making the market buyer-friendly and further attracting global investors to consider India as one of the preferred destinations for real estate investments.
With two months into 2018, ANAROCK Property Consultant’s research report presents some of the trends reflecting the state of residential real estate market across the country’s top seven major metropolitan cities.