Property price rise expectations dip: 63% of Q2 respondents forecast higher residential prices, down from 82% in Q1

economictimes.indiatimes.com:

Regarding residential sales, around 51% of respondents anticipate an increase over the next six months. This marks a decline from 73% in the previous quarter, indicating a more cautious expectation among market participants. The dip in confidence highlights a shift in sentiment, influenced by broader economic and political uncertainties.
In contrast, the sentiment regarding residential launches has shown a more positive trend. In the second quarter of 2024, 61% of survey respondents expect an improvement in residential launches over the coming months. This figure represents a slight increase from the previous quarter, suggesting a gradual recovery in new project initiations.

Moderated yet optimistic outlook for residential market

Q2 2024

Residential Sales

Residential Launches

Residential Prices

Increase

51%

61%

63%

Same

24%

20%

36%

Decrease

25%

19%

1%

Source: Knight Frank Research

Overall, while the residential market continues to show positive long-term prospects, the current cautious outlook underscores a period of watchfulness and strategic planning among stakeholders. The evolving economic landscape and upcoming budget announcements are expected to play a significant role in shaping market dynamics in the near future.

Investor sentiment in realty sector moderated in April-June: Report

The Knight Frank-NAREDCO Real Estate Sentiment Index for Q2 2024 indicates a moderated Current Sentiment Index Score of 65, down from the previous quarter’s peak of 72. This dip suggests a shift to a more measured outlook