Historically, the major demand driver for NRIs investing in Indian real estate was their eventual inevitable return to India. The general sentiment of a post-COVID-19 reverse exodus to India has thrown this driver into sharper relief.
Homeownership is now a compelling priority for millennials facing uncertain times. Out of the total voters favouring real estate, 55% are aged between 25-35 years - and 68% are end-users. In the H2 2019 edition of this survey, only 42% were in this age bracket.
Despite the lockdown across the country, digital sales have helped top developers resume at least 15-20% of their business.
Housing sales could witness a 25-35% yearly drop in 2020 against 2019, reveals the ANAROCK report 'COVID-19 - Will it Reset Indian Real Estate?'
RBI’s repo rate cut of 75 bps with 3 months' moratorium of EMIs on all outstanding loans will push credit flow into industries affected by the coronavirus.
The strict advisories for complete lockdown across cities will impact housing sales during the upcoming festivals, to buy homes.
The RBI’s conservative stance to act in tandem with the evolving situation, rather than engage in knee-jerk fiscal policy reactions, is measured and prudent.
Amid the rising number of coronavirus cases, the closure of malls and multiplexes across top cities has brought organized retail to a grinding halt.