COVID-19: Impact on Real Estate Industry in Nepal

COVID-19 has hit countries extremely hard, and many of the aftershocks may only be felt over the next 6 – 12 months. One sector that may see longer-term effects of the devastating coronavirus is real estate and construction.

Already, there are immediate sectoral impacts, such as on leisure, tourism and retail, which are being hit hard and fast.

Impact on Real Estate
1. Home Buyers are likely to postpone their property purchase decisions as they wait for clarity on job security.

2. The Coronavirus has resulted in the closure of Shopping Malls, Retail outlets and entertainment venues. This could put future commercial real estate deals on hold.

3. Delays in supply of construction materials and shortage of labour, could further push delivery timelines of ongoing projects.

4. Companies worldwide have announces remote working for employers, to contain the spread of COVID-19. Consequently, office utilization rates may fall, as remote working increases.

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