Around 45% property owners anticipate prices of properties to fall
New Delhi: Around 45 percent property owners in the country anticipate the prices of properties to fall. About 10 percent are expecting an increase in value of real estate.
Around 80 percent owners who have been intending to sellout properties will continue to look for buyers. About 20 percent have postponed their plans to sell, according to a survey by property portal 99acres.com.
About 54 percent of the landlords who want to rent their property anticipate the rentals to go down. Only about 11 percent are expecting an increase in the rentals.
About 57 percent brokers anticipate the property demand to decrease after the corona virus pandemic. Around 29 percent of the brokers are uncertain regarding the changes after the pandemic in the real estate market.
As the corona virus has struck economic activity and livelihoods hard, the landlords in the country are being somewhat kind to their tenants. About 16 percent of the landlords have waived off rent for their tenants for two months, Another 41 percent of the landlords have given extension to their tenants for rent payments.
About 44 percent of the landlords have not increased the rents and around 41 percent are giving extended time to their tenants to pay up.
The survey was conducted amongst brokers and owners who want to rent or sellout their property.
Even as the market is quite sluggish, around 76 percent owners are on a hunt for a tenant for renting out their properties. About 24 percent have postponed looking out for tenants.