#Covid19 - Impact on Lucknow's Residential Property Market

As we have been working in #Residential Property market since a decade, we have observed many ups downs in the segment weather it is Global recession in #2008/09 or #Demonetization or #RERA and #GST coming into effect. By enlarge post #2012 property market started feeling stress of the exponential growth of the past decade which was around #26% annually it means the property rates were doubling in every #3years which increased the #PE ratio more then #50 Compare to #18 or less in #2002.

However If we look at #Lucknow's Residential Property market it has started #Time Correction at very beginning of #2013 the only reason was , Lucknow was a smart buyers market on other hand cities such as Delhi/NCR , Gurgaon, Mumbai . Here more than #50% buyers were Millennial and buying properties at very high PE till late #2016 hence Demonetization impacted such market hard and Push them towards #Price Correction, Now it's time for such market to consume time correction for at lest 2-3 Years more to offer better deals and attract home buyers and Investors.

On the other hand #Lucknow is always been the first choice for people moving from eastern UP for #Healthcare #Education #Political #Social reason and with Most stable State Government in India will attract more immigrants from other States and Metros as well which will eventually
increase the housing demand in the city.

Post Covid 19 the demand of housing will increase immensely due to various factors few of them mention below

#30% Job shifted to work from home.

#People will move from metro to Tier-2 cities for cheaper livelihood

#Work From home will require bigger homes

#Co living and Sharing rentals concept is growing at 15% CAGR

#People seeking clean and Hygiene spaces.

Hence all the above makes #Lucknow the first choice for immigrants moving from different states and Metros and likely to see a big shift in demand of Residential Real Estate.

For more information you can write us at mayur@moneybricks.co.in

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