Optimism Abounds in Real Estate Sector Amid Steady Growth Predictions

The real estate sector is optimistic about significant growth in the next six months as per Knight Frank and NAREDCO's latest index. Improved future sentiment scores and a strong residential market outlook fuel the positive sentiment, reflecting the sector's resilience and potential amidst global uncertainties.

A new report by Knight Frank and NAREDCO indicates a positive outlook for the real estate sector, anticipating growth in the months leading up to March 2025. Despite a slight dip in current sentiment scores, the future sentiment has shown improvement, indicating rising confidence among stakeholders.

The 'Real Estate Sentiment Index Q3 2024' reflects an overall positive sentiment in the sector. Although the current score fell slightly to 64 from 65, it remains well above the neutral 50 mark. The future sentiment climbed to 67, suggesting continued confidence in the sector's potential for expansion.

In the residential and office markets, forecasts remain optimistic. Knight Frank reported that a significant portion of respondents expect an increase in residential prices and sales. The office market also shows strong confidence in leasing and rental rates. These indicators underscore the sector's resilience and readiness for ongoing growth.

(With inputs from agencies.)