However, there is a consensus that some new pockets of opportunities may actually help the crisis-ridden sector bounce back and emerge stronger.
According to Manju Yagnik, Vice Chairperson, Nahar Group and Vice President, NAREDCO, NRI investment is one such potential area, with increased uncertainty of jobs, visa related issues as expats.
Shveta Jain, Managing Director - Residential Services, Savills India, agrees and adds that NRIs had traditionally been buying properties in India. The sector sees highest remittances from the diaspora. Sadly, there has been a decline in NRI investment post 2014 when the residential market went through a slump.
“In the wake of the current crisis, we expect to see a heightened NRI activity driven by first-time homebuyers in the age group of 27 to 37. These purchases will be seen as a hedge and safeguard against crises. However, the rider to these purchases will be of right value and proven track record of the developers,” Jain says.
Promising Pockets
Denne historien er fra July 2020-utgaven av Outlook Money.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Denne historien er fra July 2020-utgaven av Outlook Money.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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