Is COVID -19 a Challenge or an Opportunity for the Real Estate Market and Economy of Sri Lanka?

Abstract

COVID-19 has been an unprecedented challenge ever faced by the global society and global markets. Even though the Sri Lanka situation is comparatively less dangerous, as it is able to controlled with fewer number of infected persons and deaths, implication of COVID-19 on overall socio-economic context of the country is not easy to measure. As it is highly affecting to all market operations, what implications on real estate sector is a special inquiry among real estate actors. “Whether it is a challenge or an opportunity” is a debatable theme to move ahead in the market under the compressed scenario due to an abnormal uncertainty made by the COVID-19. However, it can be suggested that recognizing opportunities from challenges and/or transforming challenges into opportunities is the strategic way of action in the real estate sector
of the country at this very important movement.
Keywords: Abnormal Uncertainty, Challenges and Opportunities, Corona Virus Outbreak, COVID-19 Pandemic, Real Estate Markets