firstBHK.com
  • Mumbai
  • Navi Mumbai
  • Pune
  • Ahmedabad
  • Noida
  • Gurgaon
  • Bangalore
  • Hyderabad
  • Chennai
  • Submit Project
  • Mumbai
  • Navi Mumbai
  • Pune
  • Ahmedabad
  • Noida
  • Gurgaon
  • Bangalore
  • Hyderabad
  • Chennai
  • Submit Project
No Result
View All Result
firstBHK.com
No Result
View All Result

firstBHK.com > Blog > Coronavirus (COVID-19) impact on Real Estate in India

Coronavirus (COVID-19) impact on Real Estate in India

52
VIEWS

With the spread of Coronavirus (COVID-19) it was officially declared as a pandemic by World Health Organization (WHO) on March 11 on which after it created a huge impact on real estate industry. India being listed now in top 3 position of the Coronavirus (COVID-19) chart, it’s been a very hard time for everyone from low class family to middle class family. It is now fairly created massive unemployment, cuts in wages, businesses running down, loss of jobs and much more. Coronavirus (COVID-19) has thus also created a huge impact on real estate industry in India.

Coronavirus (COVID-19) impact on Real Estate in India
Coronavirus (COVID-19) impact on Real Estate in India

Now everyone is likely to be cautious with the investment they made in real estate sector or now further willing to make any investment in property market. Home sales can drop, home prices may fall but it can also be great opportunity in the market for investors to buy a property.

Leader Board Ad Leader Board Ad Leader Board Ad

Some previous pandemics have dramatic changes in the housing sector with a full stop in the market. But now with time changing, this pandemic is making life and markets anything but normal. So here are some of the points where Coronavirus (COVID-19) will create an impact on real estate sector in India.

Contents

  • Impact on Real Estate Business
  • Impact on Real Estate Residential Sales
  • Impact on Real Estate Stocks
  • Impact on Real Estate Labours
  • The Opportunity

Impact on Real Estate Business

With the Coronavirus outbreak businesses in real estate market work is been growing slow. The projects will now be running in delay mode and could delay for one year. Thus, homebuyers have to wait for their ready to move in flats. According to reports nearly 4.50 lakh units across top seven cities in India were supposed to be completed by the end of 2020 has now been put on delay. Some real estate businesses have been halted due to the outbreak and lockdown.

Impact on Real Estate Residential Sales

The demand in the residential sector of real estate may see a huge decline in number of sales. The projects, housing agencies, consultants may suffer due to outbreak of Coronavirus. In 2019, 2.60 lakh units were sold in the markets which may now fall in the range between 1.70 lakh to 1.90 lakh units. The new launch of projects may also see a decline with 30% sales. Developers would be impacted with these thus now may opt for more offers or may low down prices to increase sales.

Impact on Real Estate Stocks

The March, April, May month have seen a huge crash in the markets of stocks due to COVID-19. The global market came down to one-third of the market by sweeping out billions of dollars from the market. These Coronavirus has hit almost every sector of assets and stocks in India. With the crash in Indian markets it swept out hundreds of crores from the market in a single day. The Bombay Stock Exchange (BSE) tanked 1,836 points while the National Stock Exchange (NSE) plunged 494 points in a single day on March 16, 2020. Traders have gone with huge loss in all trading types.

Impact on Real Estate Labours

With the spread of Coronavirus (COVID-19) all ongoing projects in the market have seen a shortage of labours working for it. The workers are not reporting and are trying to stay away from the project site due to the fear of virus. Most of the workers have returned to their villages and can come back after Diwali or in month of November. With the delay in projects, real estate government body may penalize developer with huge fees for not completing their work on time.

The Hindu - Labour Migration
Credit: The Hindu – Labour Migration

The Opportunity

With the economy going down in this pandemic may create investment opportunity for high class families and Non-Resident Indians (NRIs). As the falling of property prices in different regions may lead to successful investment opportunity in that area. NRIs have great opportunity to invest in as the value of Indian Rupee is falling day by day. Gold and FDs are among the top priorities for short term investment but investing now in real estate may give a huge profit in coming days.

Read Also : 

  • 15 Property Documents Checklist You Require –
  • 8 Tips for first time Flat Buyers in India
  • Top 19 Residential Areas to Buy Flats in Mumbai
SendShare1ShareTweetSend

HOME LOANS

IDBI Bank Home Loan Interest Rates – 2021 January

Union Bank of India Home Loan Interest Rates – 2021 January

IDFC First Bank Home Loan Interest Rates – 2021 January

Kotak Bank Home Loan Interest Rates – 2021 January

ICICI Bank Home Loan Interest Rates – 2021 January

Bank of Baroda Home Loan Interest Rates – 2021 January

HDFC Bank Home Loan Interest Rates – 2021 January

SBI Bank Home Loan Interest Rates – 2021 January

Axis Bank Home Loan Interest Rates – 2021 January

NEWS

PMAY (Urban) – Centre sanctions construction for 10.28 lakh houses

Housing Department of Rajasthan proposed 7 flats construction on 750 sqm plots

Hubballi-Dharwad’s illegal layouts report to be submitted to HDUDA

Agreements to be signed by the Centre under ARHC scheme with states

Facebook Twitter Instagram Youtube

firstBHK.com Logo White

Finding your first residential flat is just important as taking various information into considerations. We list all residential real estate new / upcoming / launch projects from top cities on firstBHK.com
 
Projects in Mumbai
Projects in Navi Mumbai
Projects in Pune
Projects in Noida
Projects in Gurgaon
Projects in Ahmedabad
Projects in Bangalore
Projects in Hyderabad
Projects in Chennai
 
About Us
Submit Project
Contact Us
Advertise
News
Blog
Privacy Policy
Terms & Conditions

Copyright © 2020 firstbhk.com. All rights reserved.

No Result
View All Result
  • Mumbai
  • Navi Mumbai
  • Pune
  • Ahmedabad
  • Noida
  • Gurgaon
  • Bangalore
  • Hyderabad
  • Chennai
  • Submit Project
Open chat