As with most sectors of the economy, the property market was hit hard by the Covid-19 pandemic.
Siva Shanker, chief executive of an international property consultancy, said the housing market went into panic after the national lockdown as no one knew what to expect from the Covid-19 crisis.“This sector will be shaky and will take a while to see some strong traction,” he said, and more data would be needed on the market’s reaction after a six-month loan moratorium ends in September.
But Siva said prices for good investment properties will remain stable as they are sold based on their yield. Owners of older office space should refurbish and re-brand their units so as to grab potential tenants’ attention.
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