Assessment of India Real Estate– Residential in H1 2021
Shweta Thakker, Chief Sales & Marketing Officer, AhujaHIVE on the Knight Frank report on the Residential Real Estate Sales in India for the period H1 2021:
The latest Knight Frank report provides an assessment of India Real Estate– Residential, January-June 2021 cites an uptick of 185% YoY in Q2 2021 records despite the severity of second wave of Covid-19 containing the fall in residential prices in H1 2021. The real estate sector sentiment has benefitted from an overall drop in the unsold inventory and a noteworthy spike in sales realized as the buyers continue to fulfil their dream and aspirations of owning a home or building their investment portfolio.
Real estate sales may have slowed down due to the Covid restrictions, however, there was a considerable demand witnessed for the mid-range to high-end residential property segment. Developers capitalized on the burgeoning market with flexible payment options and offers to incentivize buyers and expedite sales. The key factor driving the sales is the need for larger spaces given the work from home and school from home culture and securing the buyers future with a high yielding tangible asset investment.
An exponential rise of a whopping 388% in new launches indicates a positive sentiment that is certainly likely to continue in H2 2021. Reputed developers are spearheading this wave by readying a host of properties in the coming months for announcing launches and ensuring timely delivery of possession assuring quality homes with top class amenities. The trend will be fuelled by the gradual economic recovery and the incentives provided by the government coupled with lowest ever home-loan rates.