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Impact from Corona Virus on Pune Real Estate Market
A pandemic is believed to be an overall source of destruction and not just in the health department. Corona virus has been a terrible thing that could happen to us. it’s effect on our surroundings and let alone the market, has been appalling. Real Estate has felt a major setback itself. Corona virus came as a destruction and became a lesson for all of us to learn how to go through the dymanics of life and market.
Pune’s real estate got severely affected by Corona virus. It so happened that during the rigorous lockdown in April and May, it was observed that most of the labourers went back to their home towns because of the then covid protocols. Because of this, so many projects were left unattended and incomplete which automatically effected the revenues of real estate developers.
It overall shook the demand and supply of real estate properties. People suffered salary cuts and even job losses on a large scale. This consequently brought financial uncertainty among the average home-buyers and lead to drop in the real estate market.