It is a good time to buy the residential property. People may postpone buying right now but as the situation stabilizes, we expect renewed interest in residential property.
The covid-19 crisis has hit the residential real estate sector hard. Prices of properties across some of the costliest cities such as Mumbai have corrected at least 10-15%, according to various reports. Also, sales in the first half of 2020 declined 49% across the top seven cities compared with the same period last year, according to a report by ANAROCK Property Consultants. To revive demand, developers have been offering discounts and schemes to buyers. But have prices bottomed out or does it make sense for homebuyers to wait a little more before buying that dream home?