The festive season is over. Although it is too early to estimate the 2018 festive season’s property sales numbers yet, experts and insiders believe that residential real estate sales will go up by 9 percent in Q4 2018 (the festive season quarter) as against Q3 2018.
Unlike other industries, the estimation of the exact sales number is not an easy task. Sales numbers are usually collated by the end of the fourth quarter.
The trend of the recent years shows that the entire fourth quarter of the calendar year is seen as an auspicious time, which in turn reflects in the form of a rise in sales. Industry experts believe that housing sales in this quarter will go up by 9 percent against preceding quarters. Also, sales must have increased by 15% in the year across the top 7 cities as compared to Q3 2017, IIFL reported.
If the momentum continues for the rest of the quarter, the Indian real estate industry might expect sales to go up by 12 percent Q.O.Q. However, the ongoing liquidity crisis in Indian real estate could, to come extent, might play spoilsport and put a brake on the progress.
The numbers keep changing from city to city. Like NCR real estate market is still sluggish as compared to Bengaluru and MMR that have gained significant momentum with the dust of DeMo, RERA and GST finally settling in. The issue of stalled projects has primarily been at the core of buyers’ discontent in NCR and is still playing the spoilsport.