The current lockdown due to this Epidemic has brought the industry to a standstill position.The residential sector which already had concerns of weak demand will find it difficult to launch new projects and complete the ongoing ones due to construction halts and labour shortage.
This crisis has retracted the end-user confidence to its lowest levels ever, which will push any kind of real estate purchase decisions to the distant future.There will be a slowdown across the industry post COVID-19 crisis. The industry is facing an acute working capital crisis which is essential to restart the business and keep it going.
As gradual recovery begins with improvement on this pandemic and things settle over a 12-24 month time horizon. Expecting individual will not have much priority towards buying new properties as loss of income, loss of business, loss of job, loss of life, we don’t know the situation. As demand decrease there will be decrease in the prices, it may be at the cost of losses as from last couple of years developers have made price correction, so I will not say correction!!
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Good initiative. Best wishes
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Many thanks!!
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