Will there be any impact on the real estate market in your opinion?
The fact is that , justified or not, the crisis has already hit many businesses including hospitality, hotel,tourism, education, transportation and financial markets and other businesses will be hit due to the problems in these sectors as news come of continuous outspread of the virus.
As an investor, will you keep investing this year? How do you think the prices will evolve this year?
My take is increase in prices of farm houses and properties in remote areas as people would like to have backup resort to shift to avoid crowd.
If there is an extended economic slowdown and stock market keeps plunging then real estate will be perceived as a better, safer bet than stocks. Stock markets and real estate have different behaviors and sometimes even opposite.
If you are buying hotels or hostels for rent then be careful.
Real estate market will also see downside together with other businesses?
Hundreds of conferences have been cancelled. Hotel rooms cancelled. Airplane travel cancelled. The impact to cities that rely on tourism and conferences could be substantial. It is not just the businesses, but the people who work at these places. They own houses, rent apartments and rent houses. When they lose their jobs, it will impact real estate in these markets.
Forced quarantine or state of emergencies could impact tenants ability to work and their ability to pay rent. If it became a huge problem and all of your tenants stopped paying rent.
Vacation rentals will be impacted, no doubt as people will be afraid to travel.
Apartments rents and prices will go down and independant houses prices will go up. Apartment owners will invest in health technology for their properties.
Pls write your opinion . Thanks.