Affordable housing to be worst hit as COVID-19 lockdown halts works; property rate cut unlikely to spur demand: Experts
4 years, 8 months ago

Affordable housing to be worst hit as COVID-19 lockdown halts works; property rate cut unlikely to spur demand: Experts

Firstpost  

Sanjay Dutt, managing director and chief executive officer of Tata Realty and Infrastructure, said developers have been absorbing rising labour costs, interest costs and raw material costs. “Only if all of us survive and our projects are completed, then only we will be able to do business,” he said while addressing a webinar organised by the National Real Estate Development Council. We say there is no better industry than real estate for long-term returns.” Sanjay Dutt, managing director and chief executive officer of Tata Realty and Infrastructure, said developers have been absorbing rising labour costs, interest costs and raw material costs. If we can bring the capital at cheaper rates, it will help the real estate sector a lot.” On Tuesday, Deepak Parekh, chairman of mortgage lender Housing Development Finance Corporation, said estate prices in the country will correct by up to 20 percent in the wake of coronavirus pandemic and the resultant nationwide lockdown.

Real Estate Costs Estate Real Managing Director Naredco  estate  unlikely  come  housing  real  costs  tata  works  halts  worst  developers  rate  lockdown  managing  spur  webinar  property  hit  director

History of this topic

Real estate sector faces challenges amid declining home sales and high prices
1 week, 1 day ago

Real estate sector faces challenges amid declining home sales and high prices

Hindustan Times  

India's primary housing market may register a modest single-digit price rise in 2025 after appreciating by an average 21 per cent last year as developers are expected to boost new supply to match up demand, according to industry experts. After increasing by an average of 21% last year, India's primary housing market may have a small single-digit price increase in …

EMIs Of Homebuyers Rise Over 20 Per Cent In Two Years In Affordable Housing Segment
1 year, 5 months ago

EMIs Of Homebuyers Rise Over 20 Per Cent In Two Years In Affordable Housing Segment

ABP News  

Affordable housing in India suffered the most due to the Covid-19 pandemic, and unlike the other segments, has not recovered in the past two years. According to their report, the share of affordable housing in overall sales in H1 2023 shrunk to 20 per cent, an 11 per cent decrease against the corresponding period in 2022. The mounting desolation is …

Budget 2023 Expectations: Will Home Buyers Get More Relief? Here's What Real Estate Sector Wants From FM
1 year, 11 months ago

Budget 2023 Expectations: Will Home Buyers Get More Relief? Here's What Real Estate Sector Wants From FM

News 18  

Real estate sector in India is expected to grow at a CAGR of 15%, from $60 billion in 2010 to $1,000 billion in 2030. Despite the rise in interest rates on home loans by more than two percentage points over the past year, housing sales have remained strong in 2022, in large part, because of the pent-up demand from the …

Housing Sales: Demand Expected To Continue Going Forward; Volume May Jump 12% In FY23
2 years, 8 months ago

Housing Sales: Demand Expected To Continue Going Forward; Volume May Jump 12% In FY23

News 18  

After being hit by the COVID-19 pandemic and coming to almost a standstill for two years, the real estate market has now started gaining momentum. The momentum is expected to continue in 2022-23 on the back of strong demand, and housing sales may jump around 12 per cent year-on-year in the current financial year, according to a report by India …

CBRE's Anshuman Magazine on real estate's future
2 years, 9 months ago

CBRE's Anshuman Magazine on real estate's future

Business Standard  

Ans: >First impact of Covid-lockdown was on the ongoing constructions>Another impact on the sector was investor decision-making becoming slow, because of the uncertaintiesAns:>Impact of the extended lockdown could have been much worse for the real estate sector>Recovery was substantial in a short period of timeAns:>Recovery witnessed in all segments of real estate>Recovery in the residential sector started picking up first, …

Indian real estate engine on the right track
2 years, 9 months ago

Indian real estate engine on the right track

The Hindu  

Despite the continued cyclical upswings and downswings of the COVID-19 pandemic, the Indian real estate sector has remained largely resilient. It is now showing signs of revival, on the back of India’s strong position as a driver of the global economy as well as promising growth projections across segments such as office, I&L, residential and alternative real estate segments. Technology …

Economic Survey: COVID restriction affected demand, supply of housing sector
2 years, 11 months ago

Economic Survey: COVID restriction affected demand, supply of housing sector

India TV News  

Highlights Demand and supply of residential housing sector was affected by Covid-induced restrictions It revealed that no of unsold residential units have witnessed significant drops during 2nd wave Decline in housing transactions have also been much less during 2nd wave of Covid Demand and supply of the residential housing sector was affected by Covid-19-induced restrictions, the Economic Survey 2021-22, tabled …

Pre-Budget expectations from the real estate sector
2 years, 11 months ago

Pre-Budget expectations from the real estate sector

The Hindu  

The real estate sector in India is one of the country’s economic cornerstones, and it is the country’s second-largest business generator after agriculture, with more than 230 affiliated businesses. The nation’s real estate sector is pinning its hopes yet again on this year’s budget for some more relief in the measures. However, this year real estate sector’s budget wish list …

India evicted 21 people every hour during COVID: Advocacy group
3 years, 4 months ago

India evicted 21 people every hour during COVID: Advocacy group

Al Jazeera  

More than 43,000 homes demolished and about 21 people evicted every hour between March 2020 and July 2021, says HLRN. Housing rights campaigners are warning that more than 250,000 people were evicted across India during the coronavirus pandemic and millions more are at risk of being uprooted as authorities eye projects for faster economic growth. Between March 2020 and July …

How Canberra's COVID-19 lockdown is impacting the capital's property market
3 years, 4 months ago

How Canberra's COVID-19 lockdown is impacting the capital's property market

ABC  

Cracking into Canberra's property market was already a struggle, but the current lockdown has made buying a home even more difficult. "Over the past four weeks we have seen the new listings count across the ACT fall by 16 per cent," CoreLogic's head of Australian research Eliza Owen said. Homes that have been on the market during the lockdown have …

Real estate recovering from Covid shock: Over 18,000 residential, commercial units to be delivered across NCR
3 years, 4 months ago

Real estate recovering from Covid shock: Over 18,000 residential, commercial units to be delivered across NCR

India Today  

Over 18,000 residential and commercial units are likely to be delivered this year across the National Capital Region, as the real estate sector looks to recover from the effects of the consecutive lockdowns due to Covid-19. One of the real estate giants of Noida, Gaursons group, is likely to deliver over 5,000 units including residential and commercial housing. On the …

Why Buying A New House Amid The COVID-19 Pandemic Can Prove To Be A Good Decision
3 years, 5 months ago

Why Buying A New House Amid The COVID-19 Pandemic Can Prove To Be A Good Decision

News 18  

The real estate market in India is one of the pillars of the economy and is the second-highest employment generator in the country after agriculture. Homebuyers are also looking to upgrade to bigger spaces for reasons of safety and this is fueling demand in the real estate sector making it the best time to buy property. High demand due to …

Why real estate revival is pegged to economic recovery
3 years, 5 months ago

Why real estate revival is pegged to economic recovery

India Today  

If there was any hope of recovery for the real estate sector, it was set back by the second wave of Covid-19. According to a report by brokerage firm PropTiger, home sales in eight key real estate markets fell 16 per cent in the April-June quarter this year, compared to a year ago. Real estate consultant Anarock says that despite …

House prices keep surging, real estate likely to shrug off short COVID lockdowns, CoreLogic says
3 years, 6 months ago

House prices keep surging, real estate likely to shrug off short COVID lockdowns, CoreLogic says

ABC  

Australia's house price surge has continued into winter, but there are early signs momentum might be coming out of the market, and not due to snap COVID lockdowns. Key points: Dwelling prices rose 1.9 per cent nationally over June, with similar growth rates in capitals and the regions Housing values rose 13.5 per cent over the financial year just ended …

House prices to bounce back in 2021 after modest falls during coronavirus pandemic, CBA predicts
4 years, 4 months ago

House prices to bounce back in 2021 after modest falls during coronavirus pandemic, CBA predicts

ABC  

Australia's biggest home lender says house price falls so far during the pandemic have been surprisingly small, and its internal modelling is predicting a quick rebound everywhere except Melbourne. Key points: CBA is now forecasting a 6 per cent fall in capital city property prices due to COVID-19, down from 10 per cent initially But the bank warns that Melbourne …

Is recovery around the corner for India’s housing market?
4 years, 4 months ago

Is recovery around the corner for India’s housing market?

The Hindu  

L ike other industries, the construction sector was also severely impacted after the nationwide lockdown was imposed in late March. “While there was initial ambiguity among buyers, the Covid situation has made many realise the importance of owning their own home,” says Eshwar N, Chief Marketing Officer, Casagrand. “However, there is an inherent demand for the affordable segment and plots …

Housing market could still see major recession to come as coronavirus ravages economy
4 years, 5 months ago

Housing market could still see major recession to come as coronavirus ravages economy

ABC  

In ordinary times, they're inseparable. Housing demand in the dumps Only a few months back, normally sober commentators were predicting a housing market crash of up to 30 per cent. Still, late last week, ratings agency S&P predicted a 10 per cent drop in our housing prices nationally as the virus numbers gathered pace in Victoria. Housing credit numbers released …

Lockdown Impact: Housing Sales Plunge 79% in April-June in Top 8 Cities
4 years, 5 months ago

Lockdown Impact: Housing Sales Plunge 79% in April-June in Top 8 Cities

News 18  

Housing sales plunged 79 per cent to 19,038 units across eight major cities in April-June, as demand was badly impacted due to the nationwide lockdown to control COVID-19 pandemic, real estate brokerage firm PropTiger said on Tuesday. Releasing its latest report 'Real Insight: Q2 2020' through video conference, News Corp-backed PropTiger said that sales of residential properties fell 52 per …

Real estate industry may take up to a year to recover, says study
4 years, 6 months ago

Real estate industry may take up to a year to recover, says study

The Hindu  

The battered and bruised real estate industry will take about a year to get back on its feet, according to a recent study. The demand for residential real estate could show signs ofpick-up in six to 12 months once the pandemic settles, and buyers will prefer smart homes and integrated townships in the post-COVID-19 world, according to the research paper …

Will COVID-19 push people into buying homes?
4 years, 6 months ago

Will COVID-19 push people into buying homes?

The Hindu  

Like every other sector, real estate too has been severely impacted by the pandemic. The general home buying sentiment is also guided by cheaper home loan interest rates, which are today in the 7.15% to 7.8%, range,” says Prashant Thakur, Director & Head of Research at Anarock. “If the government increases the deduction limit of interest on home loans and …

Covid-19 could lead to increased demand for rental units
4 years, 7 months ago

Covid-19 could lead to increased demand for rental units

Live Mint  

The covid-19 pandemic is altering the way we live our lives, as well as the way nearly every industry functions. In the wake of the pandemic, the demand for rental units could grow, as many people will choose not to buy homes in the near future. According to a report titled ‘Brick By Brick—Development of Renting Housing in India’ released …

Why COVID-19 WON'T make houses more affordable for young, first-home buyers despite economic crisis
4 years, 7 months ago

Why COVID-19 WON'T make houses more affordable for young, first-home buyers despite economic crisis

Daily Mail  

The coronavirus crisis is unlikely to make real estate affordable for young, first-home buyers despite predictions of double-digit price falls, experts say. In Sydney, just 1.4 per cent of home sales in May were forced or urgent, the same level as February before the COVID-19 lockdowns, property sales website Domain has revealed. Distressed sales rates Sydney: 1.4 per cent Melbourne: …

Covid-19 is changing the sentiments of prospective homebuyers
4 years, 8 months ago

Covid-19 is changing the sentiments of prospective homebuyers

Live Mint  

Deciding to buy a house, especially your first one, is perhaps one of the biggest decisions you will make in your lifetime. A survey by magicbricks.com, a real estate portal, titled “Property Buyer Sentiment Survey”, states that, “about a third of buyers are wanting to put their purchase plans on hold and as many as 75% respondents are planning to …

The wait to own that new house just got longer
4 years, 8 months ago

The wait to own that new house just got longer

Live Mint  

The covid-19 pandemic has taken a huge toll on the real estate sector with construction activity coming to a grinding halt. Resuming construction work at full capacity may take some time as a chunk of daily wage labourers have migrated to their hometowns,” said Mani Rangarajan, group chief operating officer of real estate portals Housing.com, Makaan.com and PropTiger.com. “Covid-19 has …

COVID-19 Lockdown: Businesses Seek Govt Intervention to Survive
4 years, 8 months ago

COVID-19 Lockdown: Businesses Seek Govt Intervention to Survive

The Quint  

Breaking down the severity of the crisis that the sector faces, Niranjan Hiranandani, president of The Associated Chambers of Commerce and Industry of India said, “7.5 to 8 percent of the GDP in India is real estate. Instead of that coming to you and me and our companies and real estate and builders and promoters and shopkeepers, the money has …

About 90% of prospective homebuyers see correction in property prices post-lockdown: Survey
4 years, 8 months ago

About 90% of prospective homebuyers see correction in property prices post-lockdown: Survey

Firstpost  

According to the survey, 40% of the total prospective homebuyers, who were searching flats for purchase before lockdown, have postponed their plan while 60% are still keen to buy within the next 12 months. New Delhi: Around 90 percent of prospective homebuyers expect prices to fall due to adverse impact of COVID-19 outbreak, according to a survey by real estate …

Affordable housing will be most affected due to COVID-19 lockdown: Experts
4 years, 8 months ago

Affordable housing will be most affected due to COVID-19 lockdown: Experts

Live Mint  

Affordable housing will be the most affected due to countrywide lockdown imposed to arrest the spread of COVID-19, a cross-section of industry experts said on Thursday. "Only if all of us survive and our projects are completed, then only we will be able to do business," he said while addressing a webinar organised by the National Real Estate Development Council. …

Coronavirus Outbreak: Real estate industry sentiment plunges to record low during January-March quarter, survey says
4 years, 8 months ago

Coronavirus Outbreak: Real estate industry sentiment plunges to record low during January-March quarter, survey says

Firstpost  

New Delhi: The real estate industry sentiment plunged to an all-time low during January-March as stakeholders turned pessimistic, foreseeing an adverse impact of the Covid-19 pandemic on demand-supply and liquidity in the market, a survey showed. According to property consultant Knight Frank and industry bodies FICCI and NAREDCO, the real estate sector, which showed signs of revival during the October-December …

Coronavirus Outbreak: World's biggest lockdown likely to cost Rs 7-8 lakh cr to Indian economy, say analysts
4 years, 8 months ago

Coronavirus Outbreak: World's biggest lockdown likely to cost Rs 7-8 lakh cr to Indian economy, say analysts

Firstpost  

Prime Minister Modi is likely to detail the post-lockdown scenario in an address to the nation on Tuesday morning. New Delhi: The world’s biggest lockdown that shut a majority of the factories and businesses, suspended flights, stopped trains and restricted movement of vehicles and people, may have cost the Indian economy Rs 7-8 lakh crore during the 21-day period, analysts …

India's property prices face steep falls as coronavirus pandemic freezes real estate market
4 years, 9 months ago

India's property prices face steep falls as coronavirus pandemic freezes real estate market

Firstpost  

India’s real estate market is likely to see a significant price correction for the first time in a decade as the coronavirus pandemic stalls businesses across the country, according to a half-dozen industry insiders Mumbai: India’s real estate market is likely to see a significant price correction for the first time in a decade as the coronavirus pandemic stalls businesses …

National house prices hold up in March, but it's just a matter of time before coronavirus reduces property gains
4 years, 9 months ago

National house prices hold up in March, but it's just a matter of time before coronavirus reduces property gains

ABC  

The impact of coronavirus is starting to trickle through to house prices, but it is early days yet with price rises across most capital cities still driving national dwelling prices up 0.7 per cent last month. Key points: The March reading on national house prices was the lowest monthly gain since the market lifted in July last year, property data …

Coronavirus lockdown to come at heavy economic cost: Analysts
4 years, 9 months ago

Coronavirus lockdown to come at heavy economic cost: Analysts

India TV News  

The three-week lockdown in India will make the year 2020 an even worse year for the economy than the 2008 global financial crisis, according to analysts. ING Group said in a note that the three-week nationwide lockdown will significantly dent India's GDP growth, making this an even worse year for the economy than the 2008 global financial crisis. With all …

RBI rate cuts not enough to re-fire damp India housing market: Reuters poll
5 years, 4 months ago

RBI rate cuts not enough to re-fire damp India housing market: Reuters poll

Live Mint  

Bengaluru: India's liquidity-starved economy will restrain housing market activity and price rises in coming months and into 2020, according to a Reuters poll of property market experts who were skeptical aggressive interest rate cuts will revive it. Indeed, nearly three-fourths of 18 analysts who answered an additional question said the RBI's interest rate cuts this year would have no impact …

Discover Related