Nothing has changed for real estate sector structurally: Pramod Gubbi

In a chat with ET Now, Pramod Gubbi, VP, Institutional Equity, Ambit Capital, shares his view on the real estate sector.

ET Now: No one likes real estate space, but on Friday everybody wanted to buy into real estate stocks. Has anything changed at all or we should not read too much into Friday’s price action?

Pramod Gubbi: Nothing really. I cannot see anything that has changed overnight, structurally. In fact, real estate remains on a downhill, given the structural change we are seeing in terms of movement of savings — from physical into financial savings. After long time, we are seeing positive real interest rates, positive stock market returns. The move that we are seeing from the traditional assets gold and real estate is definitely positive for the economy in general, but not necessarily for the real estate sector.