According to real estate developers and analysts, the COVID-19 epidemic affects the demand for weekends and second homes in major markets.
Mumbai-based Nirvana Realty said it recently sold more than 400 weekend homes at its signature resorts near the city.
Puneet Aggarwal, MD and CEO said, “We are also starting a project where we will develop custom-built Royal Pool Villas in Woodwood, Wada and Viroha, Dahanu.”
Anarok Vice-Chairman Santosh Kumar said, “An epidemic could give a new lease of life to a previously scarce home market.”
He said that for less than city life, rental income and / or eventual retirement were previous aspirations for a second home owner, with COVID-19 giving a more urgent motivation – homes away from urban hot Infection-related protection. The zone “For those with financial means, this is certainly the optimal time for such an acquisition.”
Work-to-home options (WFH), he said, are now largely available in many industries, with rock-bottom and often forward negotiable property prices, the lowest home loan interest rates in two decades, and some with stamp duty and Significantly lower registration rates have helped states to create demand.
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