Real estate in general and its future growth in particular is defined by its demand drivers. It is relatively easier to forecast the demand drivers in the residential sector. Reason being that the economic activities indicate the migration of the workforce and hence inherent need for housing. However, to forecast the emerging economic activity, both sector wise and region wise, is more often than not guesstimate, finds Track2Realty.
Home buying is more often than not linked to the financial health of the home buyers. However, mental health is as important as the financial health and the Indian housing market seems to rob the buyers the much needed peace and happiness that comes with an asset class like the home. The stress and anxiety is not limited to finding the right home, rather the real mental stress begins once one has bought the dream house. A Track2Realty pan-India survey.
Gender equality, or rather lack of it, in the business of real estate is a reality that no one would deny. Real estate by all means is a man’s world in this part of the world. Barring a few exceptions, where the wives or daughters of the developer have been given spotlight, a typical real estate enterprise doesn’t have a sizeable presence of women workforce. A Track2Realty Pan-India Survey.
A TV debate after the Union Budget 2022-23 caught one of the IPCs (Independent Property Consultant) off guard when the anchor categorically blamed him for real estate not getting its due with the budget. In his defence he could only argue that it is not about one specific report but all the industry reports are guilty of creating such a goodwill for the sector. The satisfactory voices were so profound that the policy makers too found the business capable of self-sustaining without any fiscal incentives.
The Union Budget 2022-23 lacked any fresh ideas as far as the real estate in general and the housing market in particular is concerned. Most of the announcements are more or less the extension of the old schemes and roadmaps. The euphoria of the industry stakeholders ahead of the budget turned into a deafening silence in the next few hours of budget speech.
Tracking the sentiment is not that easy in the business of Indian real estate. There is no ideal predictive model that could assess the sentiments of both the developers as well as the buyers. The leading voices of the sector has never been very consistent with their budget wish list and the post budget customary note. The most important stakeholders, the home buyers, are more often than not completely ignored when it comes to sentiment assessment post the Union Budget.
On the eve of every Union Budget the real estate stakeholders get into a huddle to set the narrative that could influence the fiscal policy. They are conscious of the fact that the business of real estate gets more affected by the fiscal policy than the recurring monetary policy that shapes the outcome of floating interest rates every now and then. A Track2Realty analysis.
2021 was expected to be the year of recovery for the Indian real estate that weathered the black swan of Covid in the preceding year. Throughout the year the developers put up a brave face and the industry data of the top listed developers was enough to keep the prophets of doomsday in silence. However, the closer look at the sector and the large universe of the developers raises more questions than what it could answer during the turbulent year. Track2Realty looks in to look ahead.
I often get amused when I get into the details of the industry survey that shouts at the top of its voice – “All is Well”. Some of these industry reports claiming the business to be witness to higher consumer sentiment are based on the feedback of connected parties like developers, banks, financial institutions and private equity players. All in all, it’s a family cycle where everyone is desperate to beg, borrow or steal for sale. The most important stakeholder – the home buyer – whose sentiment is being tracked is better left out in this mutual appreciation club of vested interests.
When it comes to the recovery of the asset class, the market doesn’t spread its gift with equal generosity. The historic high growth curve of the stock market post Covid crash in March 2020 didn’t make every company’s share valuable. Similarly, in real estate there are certainly some clear winners & losers during the pandemic, finds Track2Realty analysis.