Coronavirus Outbreak: Real estate industry sentiment plunges to record low during January-March quarter, survey says
FirstpostNew Delhi: The real estate industry sentiment plunged to an all-time low during January-March as stakeholders turned pessimistic, foreseeing an adverse impact of the Covid-19 pandemic on demand-supply and liquidity in the market, a survey showed. According to property consultant Knight Frank and industry bodies FICCI and NAREDCO, the real estate sector, which showed signs of revival during the October-December quarter of 2019, has suffered a huge setback because of the Covid-19 crisis with both current and future sentiment index falling to an all-time low in the pessimistic zone. “With the crisis playing havoc on the economy and real estate sector, the current sentiments of the real estate stakeholders in India have dropped to an all-time low of 31 in the first quarter 2020,” said the 24th Knight Frank-FICCI-NAREDCO Real Estate Sentiment Index Q1 2020 Survey report. About 70 percent of the stakeholders believe that the flow of funds to the real estate sector might get worse or remain at the current levels in the coming six months.