How does this Outbreak Affect the Price of Commercial Shops?
Entire world is burning in the fire named novel corona virus. The economies worldwide, with no other alternative left, have been kept under lock down. Possibility of lifting the restrictions till date hangs on a yes, no balance. Everything from normal life to daily economic activities to large scale industrial manufacturing have dried up. The demand for everything apart from absolute essential commodities have steeply declined. Even the oil prices which were soaring sky high in the pre-corona era have fallen to a record low. Reports of negative oil prices are also doing the rounds. Sellers are paying the buyers to purchase citing the lack of storage space. In this regard commercial properties are no exception. With the trend of work from home gaining momentum with each passing day, the need for a physical office space is rarely felt. This is expected to take a toll in a negative way on the prices of those properties.
The shops for rent in Siliguri will also face the consequences of this pandemic in their cost and price hike. Not only real estate, every sector like travel, businesses and many other services have seen a degradation in their whole economy. Every business is related to each other and this might be the reason for a global economic crisis.
This is the need of the hour any crisis can be recovered if the health stays in place.