One can see To Let signs at many places in Bengaluru nowadays as several people have left the city after losing their jobs while some house-owners are reluctant to let out their property during the COVID-19 pandemic.
"The real estate business has been severely affected here as several people have lost their jobs due to COVID-19. However, I think that this is a temporary problem and will slowly go away as the economy opens up," Mahesh Govianu, owner of a few apartment building projects told . He added that this was a good time to buy property as prices have come down significantly.
Nithyananda, a house owner in the city said that many landlords and landladies had stopped renting out due to the pandemic.
"Many people have left to go to their hometowns. We also have put a 'To Let' sign in front of our home. I know of many owners who are not renting out due to the COVID situation. Even my house is vacant. People will come for an enquiry but say that rent is too high. We don't know what to do," he said.
( With inputs from ANI )
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