Real Estate Better Prepared Now, Impact Of 2nd Wave Of Covid May Be Limited, Say Developers
© Provided by The Financial Express The pandemic, however, has made one thing clear that it is time to plan for the short term instead of the long term because of uncertainty in the market. The second wave of Covid-19 has been more devastating than the first, with severe repercussions on the healthcare system all around. To curtail cases, there have been localized lockdowns across most of the top cities and this has affected site visits and, therefore, housing sales. Unlike earlier, people are wary of going out at the current time, and home buyers are therefore in a wait-and-watch mode. Most developers too have become cautious and are deferring new launches. "Sales data for the April-June quarter is not yet in; however, we see that from April till date, there is a more than 50% decline in housing project sales in the top 7 cities against the previous quarter. This is especially true for MMR, Pune, NCR, and Bengaluru. Housing sales in Q2 2021 may reduce by as much as 55% against