The real estate sector is expected to be driven largely by the affordable housing segment in 2018, media reports reveal. The drive is a result of the increasing number of developers and institutional funds looking for opportunities in this space led by better returns.
Total net absorption in H12017 (January-June 2017) closed at a deficit of 11 per cent from the same time last year and was recorded at 12.5 million sq ft. Chennai was the only market among top 8 cities to register a YoY growth of over 110 per cent in H12017, as per data from Cushman & Wakefield.
In the latest joint report by Cushman & Wakefield and Propstack, the total of number of under construction residential units registered under MahaRERA are estimated at 670,339 across 5,620 projects. Of the total units registered, as many as 350,000 units remain unsold leading to an inventory overhang of 52 per cent as of August 31, 2017.
In the latest report from Cushman & Wakefield, the top eight cities witnessed residential launches of approximately 25,800 units in the first quarter of 2017, registering a 16 per cent decline from the corresponding period last year. A closer look at the trend indicate that launches have seen a steady quarter-on-quarter (Q-o-Q) decline for the last four quarters, corresponding with the announcement of Real Estate Regulatory Act (RERA) 2016 in March last year and the demonetisation exercise in November 2016.
The Indian real estate is on the cusp of change as the commercial office segment moves closer towards corporatisation, according to RICS and Cushman & Wakefield report 'Commercial Office Real Estate: Positive Disruptions- Beacons of Change’.
With real estate investment volume in Asia Pacific expected to hit US$ 611 billion in 2017, India is projected to be one of the best placed among emerging markets according to Cushman & Wakefield’s The Atlas Summary 2017, which analyses and predicts future trends in real estate investment activities across the world
Anshul Jain, Managing Director, India, Cushman & Wakefield, says, “Real estate in India is on the realm of change. With a positive global outlook and strengthening GDP, India is on the right track to becoming an economic force within the region.
Rajya Sabha passing the Goods and Services Tax (GST) Bill has brought good news for the real estate sector. While one is yet to see if GST will be a game changer for the sector, CW has recorded different reactions from industry experts on the same.
The demand for real estate, particularly residential properties, and to a certain extent, industrial corridor in smaller cities and non-metros is expected to rise. This is a result of the Smart Cities Mission and development of industrial corridors and expressways