{"id":5021,"date":"2022-01-23T17:28:08","date_gmt":"2022-01-23T17:28:08","guid":{"rendered":"https:\/\/www.propertypistol.com\/blog\/?p=5021"},"modified":"2022-01-24T13:28:32","modified_gmt":"2022-01-24T13:28:32","slug":"the-omicron-covid-version-will-not-have-an-immediate-influence-on-the-real-estate-market-credai","status":"publish","type":"post","link":"https:\/\/www.propertypistol.com\/blog\/the-omicron-covid-version-will-not-have-an-immediate-influence-on-the-real-estate-market-credai\/","title":{"rendered":"The Omicron COVID version will not have an immediate influence on the real estate market: CREDAI"},"content":{"rendered":"\n<p><strong><em>The apex association for property developers emphasizes that the long-term impact is still to be determined<\/em><\/strong><\/p>\n\n\n\n<!--more-->\n\n\n\n<p>A top organisation for real estate developers in India, <a href=\"https:\/\/www.propertypistol.com\/blog\/credai-gear-up-for-pushing-the-envelope-in-the-real-estate-market\/\">CREDAI<\/a> (Confederation of Real Estate Developers&#8217; Associations of India), doesn&#8217;t really expect the Omicron Covid version to have a &#8220;instant impact&#8221; on property bookings.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_69 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.propertypistol.com\/blog\/the-omicron-covid-version-will-not-have-an-immediate-influence-on-the-real-estate-market-credai\/#Prices_could_increase\" title=\"Prices could increase\">Prices could increase<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.propertypistol.com\/blog\/the-omicron-covid-version-will-not-have-an-immediate-influence-on-the-real-estate-market-credai\/#Sales_are_expected_to_increase\" title=\"Sales are expected to\nincrease\">Sales are expected to\nincrease<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.propertypistol.com\/blog\/the-omicron-covid-version-will-not-have-an-immediate-influence-on-the-real-estate-market-credai\/#Durable_market\" title=\"Durable market\">Durable market<\/a><\/li><\/ul><\/nav><\/div>\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prices_could_increase\"><\/span><strong>Prices could increase<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>Although apartment prices are predicted to\nclimb by 5 to 10% at the end-user level, partly to balance a comparable or\n&#8220;more than that&#8221; increase in cost of raw materials, reservations of\nexisting homes or the opening of new ones are unlikely to suffer direct\nconsequences.<\/p>\n\n\n\n<p>&#8220;Omicron&#8217;s long-term influence has yet\nto be determined. However, we must not expect a decrease in reservations or new\nproperty openings as a result of the change. &#8220;The celebratory spirit is\nanticipated to last for a long time,&#8221; CREDAI President Harsh Vardhan\nPatodia stated.<\/p>\n\n\n\n<p>Notwithstanding the &#8220;potential of an upsurge at the end-user\nlevel,&#8221; Patodia said that property reservations had remained at pre-Covid\nlevels. Buyers may observe a larger (over 5-10%) price increase due to micro-market\nmovements.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Sales_are_expected_to_increase\"><\/span><strong>Sales are expected to\nincrease<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>Advisors in real estate Given the large second wave of the Covid epidemic, Knight Frank India recently predicted that real estate sales will exceed the 2020 level this calendar year, owing to pent-up demand, festival sales, the steady recovery of India&#8217;s economy, a healthier labour market, and low <a href=\"https:\/\/propertypistol.com\/loan-service\">home loan<\/a> interest rates.<\/p>\n\n\n\n<p>The S&amp;P BSE Realty index surpassed the 4000 milestone on Friday. This index, that includes businesses like as DLF, Oberoi Realty, Sobha Developers, and <a href=\"https:\/\/propertypistol.com\/developers\/2a2d4880-0139-4b6f-950a-723557cbcacf\/godrej-properties\">Godrej Properties<\/a>, finished up 2.90 percent at 4,081.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Durable_market\"><\/span><strong>Durable market<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>The property market appears to have a strong feeling that the real\nestate cycle, which saw a turnaround from the Christmas season, is indeed a\ndurable one, according to Sharad Agrawal, Executive Director \u2013 Capital Markets,\nKnight Frank India. And this would persist for a while.<\/p>\n\n\n\n<p>&#8220;Even as cycle develops, we anticipate demand to grow more widespread.&#8221; We&#8217;re also seeing a resurgence of pricing power in the hands of property developers, accompanied by robust volumes. It has resulted in a re-rating of the industry, which drives the real estate index,&#8221; Agrawal explained.<\/p>\n\n\n\n<p style=\"font-size:12px\"><em><strong>Disclaimer:&nbsp;<\/strong>The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information<\/em>.\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The apex association for property developers emphasizes that the long-term impact is still to be determined<\/p>\n","protected":false},"author":2,"featured_media":5022,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[35],"tags":[9],"class_list":["post-5021","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-trends","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Omicron COVID version will not have an immediate influence on the real estate market: CREDAI - 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