The third wave of the Kovid-19 epidemic is unlikely to have a significant impact on the sales of homes. In the current quarter of January-March also, the demand for homes is expected to remain strong. Industry experts have expressed this opinion.
The third wave of the Kovid-19 epidemic is unlikely to have a significant impact on the sales of homes.
covid-19 pandemic ,Covid-19 Pandemic, Home sales from the third wave of (Home Sales) But not likely to have a significant impact. Demand for houses even in the current quarter of January-March (Demand) Hope to stay strong. Industry experts have expressed this opinion. Several states have imposed curbs such as weekend curfews to prevent the spread of the new form of coronavirus, Omicron, which has affected the movement of potential customers at project sites. However, real estate developers and property advisors believe it has had a marginal impact in the first two weeks of January and sales inquiries remain strong.
Anuj Puri, chairman of Enrock, said Omicron’s impact on home sales is likely to be limited compared to the last two waves. Enrock is one of the leading residential brokerage companies in the country. He said that this time there is no complete lockdown as compared to the last two waves and movement has not been affected. The sentiment remains broadly positive, as the death rate in this wave is quite low. Apart from this, the number of patients admitted to the hospital is also very less.
Not much effect from weekend lockdown
Puri said that however the weekend lockdown in some cities has affected the movement of potential customers at the project site. But through digital technology, real estate companies have maintained their sales momentum.
Shalin Raina, managing director (residential services), Cushman & Wakefield India, said the new wave has marginally impacted sales. He said that the residential real estate market in India has registered a remarkable recovery in the year 2021. Raina said lower home loan rates, stamp duty cut by several states, strong economic recovery and demand for bigger homes due to work from home are some of the factors that have contributed to the growth of the residential real estate sector. Demand remains good.
Abhishek Lodha, managing director and chief executive officer (CEO) of Macrotech Developers, said last week that in the first two weeks of January, the demand for homes due to Kovid-19 has had a “slight” impact. Lodha has expressed confidence of achieving the sales booking target of Rs 9,000 crore for the current financial year.
According to data from Enrock, home sales in the country’s seven major cities grew by 71 percent year-on-year to 2,36,530 units in 2021. However, it is 10 percent less than the pre-Covid level.
(with PTI input)