Impact of Covid-19 on Office Market Segment of India
- August 24, 2020
- Posted by: RSIS
- Categories: Economics, IJRSI
International Journal of Research and Scientific Innovation (IJRSI) | Volume VII, Issue VIII, August 2020 | ISSN 2321–2705
Impact of Covid-19 on Office Market Segment of India
Jeel Joshi, Shekhar Nagargoje
MBA in Real Estate & Urban Infrastructure, RICS School of Built Environment, Amity University, Mumbai, India
Abstract: The office segment of India was witnessing a growth trajectory for the past 3 years which was disrupted by Covid-19 pandemic. The crisis has pushed for new business models which rely on technology to achieve business continuity. In the current situation, the construction and economic activities have faced challenges. With these unconventional changes in structure, operation and lifestyle, the corporate world will have to revisit their priorities for their employees and assets. The research paper intends to gauge the gravity of the pandemic impact on Office market in India.
Keywords— Commercial demand analysis post Covid-19, Commercial Real Estate, Commercial Real Estate investments, Office market demand, Impact of Covid-19 on commercial Real Estate
I. INTRODUCTION
The pandemic of Covid-19 has turned into a global crisis with a substantial portion of the world population living under a lockdown. The Coronavirus outbreak has originated in China and has a huge impact on the global economy because of the disruption in industrial, business and trade cycles [1]. The uncertainty pertaining to the economy is high and it is difficult to forecast a recovery. Countries on their individual levels are taking steps to cushion the impact of this pandemic on people and their economy. The pandemic has an influence on the various trends of real-estate sectors. While some trends have witnessed acceleration, others may reverse [2]. The office segment was witnessing a growth trajectory for the past 3 years which was disrupted by Covid-19 pandemic. The crisis has pushed for new business models which rely on technology to achieve business continuity. In the current situation, the construction and economic activities have come to a halt. With these unconventional changes in structure, operation and lifestyle, the corporate world will have to revisit their priorities for their employees and assets [1].
II. LITERATURE REVIEW
The most fatal pandemics of the world are studied for their social, political and economical impacts. These pandemics also affected the various verticals of Real estate.
