Effect of election results in real estate
Now that the elections are over and the results are out its time to assess the impact it has on the economy in general and real estate sector in particular
- A new government with a clear majority raised optimism in 2014
- Nearly 0.54 million units launched in the year and nearly 0.34 million units sold – previous year saw launch of about 0.46 million units and lower sales
- Long-term benefits of recent reforms by the government will accrue only with the continuity of their enforcement
At a time when India’s real estate sector is yet to find its feet under a new tax (GST) and legal (RERA) regime, the liquidity squeeze in the non-banking financial sector has morphed into a liquidity crunch for the real estate industry
Real estate experts are expecting an economic boom post 2019 Lok Sabha elections. If the initial indications are anything to go by the markets have responded positively to the election result. This bodes well for the entire country. Industry insiders are of the opinion that this will lead to overall economic upheaval.
The fact that the results were unequivocal and the Government will be formed with a clear mandate should help with an improved sentiment and result in launch of new real estate projects and improved sales.
Overall things should start looking up for real estate buyers and sellers alike!
References:
https://www.moneylife.in/article/general-elections-and-the-real-estate-connection/56386.html
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