The coronavirus impact has hugely affected not only the world economy but also the majority of sectors throughout the world, including real estate.
The main reason why homebuyers’ mindset has changed is due to the challenges related to price discovery and job stability.
Construction workers don’t have the ability to work from home, but work can be resumed by meeting enhanced safety standards and health precautions at worksites.
Real estate has always been the most preferred investment option because of its good return on investments. It is an asset which is safe and stable even in situation like pandemics.
The National Real Estate Development Council (NAREDCO) recently announced the post-lockdown measures that Government needs to follow for real estate revival.