[Source: Agoda]

The real estate sector says the pandemic has had little effect on property prices and sales.

Real Estate Association President, Anand Goundar, says the lockdown posed certain challenges as agents were not able to show properties to interested buyers.

However, this did not affect their sector.

Goundar says the sector is such that their sales do not settle quickly as it usually takes around three months to a year.

“We welcome the opening of the restrictions and international flights when they come in, we will have our customers coming in as well. So it looks good. I would say in the next two to three years we will be able to go back to 2017 and 2018, if not better.”

He adds that agents who had several sales were able to settle during this period.

The Association President is hoping that property sales, be it residential or commercial, will perform even well with the easing of restrictions.