Realty Sales, Site Visits Plummet Due To Corona Outbreak
New Delhi: The real estate markets of Gurgaon and Noida have seen a reduction in site visits to the tune of 40 percent and 52 percent respectivey in the first three weeks of March 2020 as compred to the same peri dof Fenruary 2020.
The sales is gone down aby about 39 percent and 44 percent respectively due to the outbreak of corona virus.
Bengaluru has seen a 35 percent reduction in site visits and about 32 percent slump in sales in the first three weeks of March 2020. Pune has suffered about 75 percent dip in site visits. The sales have come down almost by half.
In Kolkata, transactions have slumped by about 25 percent, according to a research by real estate consultancy 360 Realtors.
“Indian Real estate has been suffering from slower demand, due to strains in the macro-economy & ongoing liquidity crunch. As the COVID-19 crisis blew in, the sentiments further plummeted. Buyers are deferring their decisions & are waiting for the crisis to get over. Developers are also postponing launches,” said Ankit Kansal, Founder & MD, 360 Realtors.