THE IMPACT OF THE SECOND WAVE OF COVID-19 ON INDIAN REAL ESTATE
It is safe to say that 2020 has changed the way the economy functions. A global pandemic has changed customer behaviour, creating lasting impact on our investment and purchase behaviours.With India being in the middle of a massive second wave of COVID-19, the economy is once again scrambling to keep up with the restricted travel permissions and potential lockdown. Real estate investments have shown an interestingg trend in the midst of the pandemic. As per a recent report by Knight Frank, the top eight cities of India have shown stable property prices in the first quarter of 2021. This can be attributed to the fall in cases from November 2020- February 2021. It is interesting to note that the cities Chennai and Hyderabad had recorded an appreciation of 8% and 5% in property prices. This phenomenon in Chennai occured due to the fact that it is a relatively end user market. That means, the city has experienced a hike in demand from buyers in up and coming areas such as Mogappa...