Realty market set to bounce back
Realty market set to bounce back
The liberalised economy and a robust demand for real estate across sectors are key factors that will make the market more reliable for investments in future, says Prabhakar Sinha.The slowdown in the real estate sector will not last long. Cushman & Wakefield's Real Estate Investment report for 2008,The Metamorphosis, points out that in the long-term perspective, strong demand for real estate will remain intact in India.
The report says that the pan-India demand for real estate across office, retail, residential and hospitality sectors, is expected to cross 1,000 million sqft by 2012. A major portion of the demand, at around 876 million sqft, however, will come from the seven major cities (as shown in the chart). A dynamic workforce, liberalised economy, and a robust demand for real estate across sectors, are some key factors that will make the market in the coming times more reliable for investments, especially in the real estate sector, the report says.
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