Improving job scenario holds hope for realty revival

The uptick in hiring and improving salary situation bodes well for the revival of depressed real estate market. 

 A Index for September 2020 has shown an improvement of 24% in hiring activity compared to August 2020. This is a marked recovery from 35-60% decline witnessed in the last few months. The September quarter has seen considerable pick up in hiring, growing at 14% compared to 8% decline in June quarter. Also, with the uptick in economic activity, some companies have started restoring the salaries in a graded manner. About 12% of companies have already restored salaries and another 20% have announced or will announce it shortly. Further improvement in hiring and salary will depend on the pace at which economy gathers momentum.

 Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global Group and Chairman, Assocham National Council on Real Estate, Housing & Urban Development, ” The pick up on the employment front on the back of improving economy bodes well for realty. In a run up to festive season, this development will boost buyers sentiment. As a result of that, we will see further rise in housing sales in the December festive quarter.

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