Home-buyers are expected to return to India’s subdued property market after the country’s general elections, which start next week.
“There is a sense of hope among developers for a positive post-poll scenario,” Ramesh Nair, the chief operating officer at JLL India told Bloomberg. He added: “While all eyes are on the general elections, the real estate sector is holding its breath for the potential optimism that is expected once the results are out. This optimism is expected to boost transactions and lift home-buyer sentiment.”
India’s general elections begin on 7th of April but will run for more than a month, with results scheduled to be announced on May 16.
Demand for residential property in India has been subdued over the past year and a half amid slowing economic growth and high interest rates. More recently, buyers have been waiting to see the result of the elections before committing to home purchases, analysts say.
