Home Interview of Experts Around the World
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Mukund PuranikCountry: India
City: Mumbai
Position: Proprietor
Organization: Universal Engineering Consultants
| Choices | A lot down | Somewhat down | Stable | Somewhat up | A lot of increase |
| Agricultural land | |||||
| Urban land | |||||
| Office | |||||
| Shopping | |||||
| Industrial properties | |||||
| Hotels | |||||
| Resort properties | |||||
| Rental housing & rental apartments | |||||
| Owner-occupied apartment or condominiums | |||||
| Detached houses, rowhouses or low-rise residence | |||||
| Residential land subdivision | |||||
| Retirement living | |||||
When will the property markets recover after Covid-19?
2023 or Longer
What are ‘new normal’ in real estate in your opinion?
Most will prefer to stay in existing apartment and may renovate instead of looking for better and larger. There will be trend to shift to distance suburbs instead of staying in core area of metro cities. Many may prefer to go to small town and villages from where many can work from home & less cost.
How should we adjust ourselves in real estate business?
Concentrate in villages or distance suburbs where demand is likely to shoot up. Smaller assignments will be more in numbers than bg assignments.
Which sectors are you in? (multiple choices)
Property Investor
Other, specified: Valuer Plant and Machinery
2020 Interview of 173 Experts around the World on Covid-19
Reason: In light of closure of several businesses around the world global economy has gone down and purchasing power of people is reduced to a great extent and only limited to bare minimum and absolutely essential goods. So property buying is out of question. Instead if house is absolutely necessary, people may opt for rental accommodation rather than ownership. There are several unsold apartments.