Hyderabad’s Office Market - Is it ready for the new normal?

Covid-19 brought global economic activity to a grinding halt in a matter of days and consequently all segments of our real estate market have been affected negatively. It is too early to predict what will happen next, but Covid-19’s impact will be the hardest of all times. Never before has a global pandemic put the entire planet on lockdown mode. This crash has consequences for the global economy, socio-economic structures, demographics, livelihoods and global business dynamics. The world as we knew it has changed and possibly will never be the same again.

To quote an article of EGI “Real estate must prepare for its most painful recession yet, with the International Monetary Fund(IMF) warning that the global economy is entering the worst downturn since the Great Depression. The IMF expects the global economy to contract by 3% this year, as the coronavirus pandemic triggers a “crisis like no other”. The loss to global GDP over the next two years could reach $9tn (£7.7tn), greater than the economies of Japan and Germany combined. Real estate’s ability to withstand the crisis will be put to the test like never before.”

Let us see some pointers on how Covid-19 will impact Hyderabad’s office market:

Hoping for a better future is all we can say at this present situation and the only silver lining is that the office segment would be the first segment to recover in the post Covid-19 scenario.

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