Second wave may dent housing sales revival

The recent outbreak of the second wave of COVID-19 and semi-lockdowns in many States may impede the housing sector’s revival seen during the last nine months, a top real estate executive said.“In Apri

The recent outbreak of the second wave of COVID-19 and semi-lockdowns in many States may impede the housing sector’s revival seen during the last nine months, a top real estate executive said. “In April 2021, the online demand for houses has decreased as compared to March 2021. There has been a low double-digit decline,” said Mani Rangarajan, Group COO, Housing.com, Makaan.com and PropTiger.com. “But there is no trend to point out a decline which is significant as compared to April 2020.If the COVID situation worsens from now, the real estate market will take a bigger hit,” he added. “Though it is too early to assess the impact, we need to keep in mind that the real estate industry is more prepared this time to handle the situation. The sector has taken a giant leap in adoption of digital tools for marketing and sales during the last one year,” he added.