Residential property sales likely to improve in 6 12 months: Survey
Of the 18 cities surveyed, Delhi, Bengaluru, Hyderabad, Mumbai and Mangalore hold an optimistic outlook on purchasing homes
Oct 17, 2014
Source : The Economic Times
Real Estate


MUMBAI: Real estate purchase sentiment index has improved by almost 2.5 points to 32.3 in September this year reflecting an improvement in consumer interest after a long period of lull, says a survey.

According to ZyFin Research, the index improved by 2.5 points to 32.5 compared to 29.8 in August, suggesting a recovery in consumer interest after the score bottomed out in April this year.

"This improvement in the overall index signifies that a larger number of Indian consumers are planning to purchase homes within the next 6-12 months," ZyFin Research Chief Economist Debopam Chaudhuri said.

According to the survey of 4,000 consumers in 18 cities across the country representing urban consumers, the improvement was led by stronger confidence levels in the north and south India compared to those in the east and west.

While the index in the north rose to 44.8 in September from 40.2 in the previous month, in the south, the score increased to 40.5 from 36.4.

The index is at its lowest in the east at 20.7, but this is also an improvement over the previous month's score of 19.1. The west registered a score of 27.5 in September, as compared to 26.7 in August.

"Historically, the sentiment index has had a strong correlation with actual sales of homes. With the festive season coinciding with the recovery in sentiment, home sales are expected to be better this season, as compared to 2012 or 2013," Chaudhuri said.

Of the 18 cities surveyed, Delhi, Bengaluru, Hyderabad, Mumbai and Mangalore hold an optimistic outlook on purchasing homes, the survey highlighted.

Of these, Bengaluru and Mumbai have turned optimistic from pessimistic in the current month. While Bengaluru posted a score of 62.5 in September, as compared to 42.5 in August, Mumbai improved to 52.5 from 40.5. The remaining three, Delhi, Hyderabad and Mangalore, have been consistently optimistic on home purchase in recent months, the survey said.

"With rising confidence among consumers towards employment conditions and household income, they are once again showing an inclination to purchase homes. If affordable housing plans are executed in reality, there would be a substantial demand in country's larger cities, as re-iterated by consumers through this index," he added.

Latest Realty News

Bill to Curb Land Grabbing Receives President's Nod
Oct 17, 2014
A bill providing for measures to curb grabbing government land and punishment up to three years for violation has received the President's assent
Diwali lifts gloom, flat sales up 20% in NCR
Oct 17, 2014
NOIDA/GURGAON: Housing sales have risen by over 20% in the NCR in the run-up to Diwali this year as compared to last year
Anushka Sharma becomes brand ambassador for Ruparel Realty in Mumbai
Oct 17, 2014
Mumbai: Bollywood actress Anushka Sharma plays a new role as the brand ambassador for one of Mumbai's well known real estate companies — Ruparel Realty
Civic nod to Ranchi master plan draft
Oct 17, 2014
Ranchi:Decks have been finally cleared to do away with the 31-year-old master plan of Ranchi, the capital of Jharkhand
Land glare on Kalpataru wife
Oct 17, 2014
Cuttack/Bhubaneswar: Orissa High Court sought response from the central and the state governments on a PIL seeking intervention against “illegal” occupation of forestland
Ansal API signs up IBM, Cisco for smart city project
Oct 17, 2014
Lucknow: Realty major Ansal API has signed up technology majors IBM and Cisco for transforming its Sushant Golf City residential township into a smart city
Real estate to see little sparkle this festival season as sales remain low
Oct 17, 2014
New Delhi: The festive season has failed to brighten the real estate sector, as developers see low sales conversion despite high enquiries
Real estate sales muted in September quarter
Oct 17, 2014
Bangalore: Property sales in the three months ended 30 September were muted across India, with only Bangalore displaying some resilience
Why Huge Housing Scheme Named for Sardar Patel Will Annoy Congress
Oct 17, 2014
New Delhi: A large component of the new housing-for-all scheme will be named after iconic Gujarat leader and freedom fighter Sardar Vallabhbhai Patel
Bangalore - BDA Sets New Sale Record
Oct 17, 2014
Bangalore : A BDA residential site sets a new sale record by attaining an incredible amount when the Bangalore Development Authority (BDA) set up theJayanagar plot for sale

Latest Realty News Of State

Realty Talk's