Mumbai: ANAROCK’s latest report ‘COVID-19 – Will it Reset Indian Real Estate?’ takes a hard look at how the ongoing pandemic is impacting Indian real estate. No sector will remain immune to the impact of the coronavirus, which has shaken up industries across the globe and forced them to consider immediate, mid-term and long-term ways to re-strategize and rethink their businesses and business models.
Housing sales to see 25-35 per cent y-o-y fall in 2020; new launches by 25-30 per cent.
Unsold housing inventory to remain stable, may even see 1-3 per cent yearly reduction.
Construction delays could run into several months for well-funded projects, few years for others; 4.66 lakh units to be previously completed by 2020-end face high risk of delays.
Affordable housing target group most affected, limited income & unemployment fears to defer purchase decisions.
Indian office sector to see significant impact by COVID-19; besides demand-supply decline, key occupiers to re-look office space requirements.
Indian retail leasing and new mall completions to see 30-50 per cent dip against previous growth estimates; revenue-sharing model to gain dominance.
Technology to gain significant precedence in Indian real estate from 2020 onwards.
Current estimates reveal a substantial drop in demand and supply across various real estate segments in 2020. Housing sales could witness a 25-35 per cent yearly drop in 2020 against the preceding year, reveals the ANAROCK report ‘COVID-19 – Will it Reset Indian Real Estate?’
