We contacted real estate companies to get a feel of how they are faring given the current covid-19 situation. Here are the main takeaways.
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The covid-19 impact on the real estate sector has less to do with raw material sourcing and more to do with construction schedules and sales momentum.
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Most of the inputs needed in the real estate sector are locally sourced, rendering potential import issues limited.
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Construction schedules may be lengthened due to fewer workers on site at the same time and, to a lesser extent, shorter working hours (less of a reason since working hours are originally usually set during the daytime).
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Sales seem to show hints of a slowdown; however, installment schedules of previous sales have not been extended.
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In terms of hospitality, given the current absence of tourists, companies are currently highly focused on limiting costs.