As we step into 2014, there is promise of something new and exciting to look forward to in the real estate sector. With the introduction of new legislations in 2013, the industry is all geared up for a progressive year, writes Bindu Gopal Rao
Year 2014 is being touted as the year of recovery for real estate. The end users will be in the market and the demand for mid and mid high segment will start improving from the second quarter of the calendar year. Anuj Puri, Chairman and Country Head, Jones Lang LaSalle India, says, “The lukewarm absorption of office spaces is likely to remain until uncertainty over some of the current headwinds dissipates. The US federal reserve’s decision on tapering (due early next year), the Indian general elections and the RBI policy direction (based on the inflation growth dynamics) are key factors to look out for in the coming six months.”
Again the sentiments continue from the last year as a spill over. Venkat Narayanan, Executive Director — Finance & CFO, Prestige Group says, “Based on the last three quarters of 2013, when the Bangalore market outperformed in terms of new launches and sales velocity, we are certainly hoping that the trend continues. Of course, interest rates will continue to be a key factor.” The presently cautious market sentiment is likely to continue, but the second half is likely to witness a gradual revival in absorption.
Manoj Goyal, Director, Raheja Developers Limited, opines, “We expect a growth in the prices of real estate by around 10% on year on year basis. It is also expected that the capital market regulator, SEBI, will notify the guidelines for Real Estate Investment Trusts (REITs) in India. This will help small investors to invest in the real estate sector.”
Source: Deccan Herald
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