Covid-19 is changing the sentiments of prospective homebuyers
The price discounts expected by the Magicbricks survey respondents due to covid-19 ranged between 10% and 25%. Once lockdown is lifted, homebuyers will only return to market if they find prices being cut in accordance with their expectations.
Demand for ready-to-move-in houses is getting stronger. The preference for well-reputed and organized developers, with the least project execution risk, has also been on the rise.
Deciding to buy a house, especially your first one, is perhaps one of the biggest decisions you will make in your lifetime. However, covid-19 has disturbed or changed these plans of many prospective homebuyers who were planning to buy a house around this time.