The significant surge in business confidence index in the December quarter of 2020,bodes well for the recovering real estate sector.
That despite being hit hard by the Corona pandemic, business confidence has gone up, is clearly evident from the recent survey by Knight Frank, FICCI & NAREDCO. According to the survey findings, the business confidence index has gone up from 52 points in September quarter to 65 points in December quarter, recording a significant jump of 14 points. A score of above 50 signifies optimistic outlook while a score of below 50 highlights the pessimistic outlook. Significantly, it is the first time in 2020 that the business sentiment score entered the optimistic zone.
Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global Group and Chairman, Assocham National Council on Real Estate, Housing & Urban Development, “The surge in the business confidence index is a clear reflection of the massive jump seen in the housing sales during the December quarter. Despite Corona pandemic onslaught, the foreign investors’ confidence in Indian real estate remains not just intact rather it has seen resurgence. As the sales surge continues unabated in the new year due to rising end-user demand for housing, particularly affordable housing, real estate recovery will gain further momentum.