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2021 Interview of 429 Experts around the World on Covid-19
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Binod PradhanCountry: Bhutan
City: Thimphu
Position: Assistant Manager
Organization: RICBL
On the whole, what was the percentage change in housing prices in your city during end 2019 to end 2020In your opinion, what will be the percentage change in housing prices in your city during end 2020 to end 2021
When will the property markets recover after Covid-19?
| Sector | Answer |
| 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 |
|
| Overall Assessment for your country |
|
What are ‘new normal’ in real estate in your opinion?
Due to Covid-19 nothing is happening in real estate business. Foreign workers are not allowed and there has been a drastic hike in labour cost. Bhutanese labourers are expensive and import of construction materials from India and 3rd countries have been restricted. Also the price of construction materials have increased 15-20%.
How should we adjust ourselves in real estate business?
I am not in a position to comment whether we should completely stop real estate business for a while . Bhutan imports construction materials from India (50% or above) and import has become expensive with many Covid restrictions.
Which sectors are you in? (multiple choices)
2021 Interview of 429 Experts around the World on Covid-19
