mangaluru real estate business in coastal karnataka which was making a slow recovery early this year is hit with another jolt due to the second wave industry experts predict a slower recovery when compared to the first wave it was only in january that the industry started recovering after last years lockdownthough construction works are under progress sale of flatsland or independent houses is not happening the industry was expecting good business during aprilmay which did not happen due to the lockdownformer president credai mangaluru chapter and managing director of marian projects private limited naveen cardoza said that after the first wave there was renewed hope and people started investing however currently everyone is worried about the infection we are expecting the industry to recover by the yearend he saidnaveen noted that for the time being investment in new projects may not happen as it would cost 15 more further the cost of construction materials and gst has increased in the current situation investments in new projects could be risky he pointed outmeanwhile distress sales are also expected to rise real estate consultant vivek dmello said its a good time for buyers as they can negotiate due to distress selling however buyers need to find the right properties and there is no speculative buying like before he warnedkarthik salian a contractor said that he is finding it difficult to arrange labourers majority of the migrant labourers who are the backbone of the construction industry have gone home there is a shortage of manpower and we have to invest more to arrange for labourers