While the adverse effects of the coronavirus pandemic are already being stroked across the world, unpredictable opinions are developing with regards to Covid-19’s impact on real estate. Most of the organizations and companies have implemented no face to face meetings and no visitors, this condition has affected the real estate market. The intensified tremors because of coronavirus pandemic have hurt the real estate market.

1. No property site visit

Due to lockdown and social distancing, property visits are not allowed. From a precautionary measure point of view also, site visits are marginally down. The global economic slowdown has already impacted real estate market scores resulting in a fall in property prices.

2. Delay in project execution

Real estate marketing efforts and sales have been paused and deal dates have been postponed. Construction activities have also stopped or reduced due to announced safety measures. Project delays are set to increase due to the coronavirus pandemic.

3. The short and medium-term impact

There is a large drop in sales but it is going to be short term impact as consumers will see a brighter side of rentals.

4. Buying decision

Homebuyers are likely to postpone their buying decision as they wait for clarity on job security. The purchase decision has been affected.

5. Closure of retail outlets

Due to coronavirus pandemic, malls, retail, outlets, and entertainment venues have been closed. It has kept the commercial real estate future on hold.

 While India has so far been less affected by the Novel Coronavirus pandemic as compared to other countries, the virus is spreading like fire in the country. There is an indirect impact on the real estate market as the country imports most of the construction material from China. Considering all the consequences, Fortune Infra developers promises our property buyers to look for long term goal and make your property as an asset. For offers, call us @ +91 9594900010 and visit our website @ www.fortuneinfradevelopers.com