Residential prices have are likely to rise after the election, in Delhi-NCR, compared to year ago phase. The demand for property is expected to rise in the second half of this year, which will be a boost for the real estate sector in India.
Residential property prices is rising rapidly than the growth in household income during this period, which will increase in absorption of residential segments. Interest rates are much higher. Therefore, residential prices will witness the rise of prices in an upward movement during the next six months and supply levels are likely to improve in the second half of 2014. Besides many home buyers have been waiting for the election results before taking any decision to buy a home, which caused concern in the realty market.
Anticipating a change in political leadership, which would likely lift home buyers and investors sentiment, resulting an improvement displaying a strong positive perspective for the real estate sector. However the economic and employment policies will be the key drivers to growth of the developers and financial institutions are quite bullish about the future of the economy as well as the funding scenario, as the recent years have seen a slowdown which has impacted all asset classes.
The industry expects the new government to take steady steps in creating a productive investment environment to be upbeat in the coming six months as election polls point towards an imminent change in regime and bring in clarity on passed regulations, which would help regularize the sector.
If the new government takes any positive measures for the real estate sector, it will not make or break a market but they do affect market sentiments to a significant degree.
Overall, 2014 is going to be much better as compared to previous year for the real estate sector and it is likely to see that the benefit will extend through the real-estate-economic-multiplier.
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