One can sympathize with it, while another could object to the unison.
Traders buying in stock and commodities in 2021 were estimated to be less due to the uncertainty of the global situation. Covid-19 had a mere negative impact on many industries, and on many decision-makers, disrupt on many sectors except online businesses. Research shows that there is a significant downslope, twenty to thirty percent to be precise, of the drop in investment during the pandemic.
In contrast, during covid-19 in and out of lockdown period, the number of home buyers is dramatically increased globally says the source. USA, UAE governments, and many other authorities have made actions to diminish its effect on the economy- while implementing of loan interest reductions in many areas. One of many acts that have been done was to give discounts for first-time homeowners to stabilize the downslope of the economy. As a consequence, it effectively brought more buyers than ever before to the real estate industry.
Around the globe
Many countries around the world, including South East Asia and Australia, suffered an enormous property crash, while we witnessed significant growth in the US market as a result of the pandemic. The main reason to set it apart from other countries was the righteous U.S. federal government’s verdict to keep the low-interest rates that in turn stemmed favorable rates in mortgages. This fueled the demand for property and expects to cause further growth in the U.S. real estate market in 2021.
Alternatively, Israel’s real estate market has currently festered since the property crash in 2020 since the renters delayed to pay their rent causing homeowners are unable to pay the mortgage installments- showing no improvements in the sector. However in Australia, while the property market is in a little growth after the 2020 crash, one could say many projects are on hold. Australia’s city-dwellers have been relocating to regional towns and cities and major cities are no longer the engines of the economy and global activities anymore.
In the Asia-Pacific region, a renaissance of investments through cross borders and favorable deal-makings within the region is projected in 2021. Investors in South East Asia are willing to pay less than what they were willing to pay in non-recession times.
In short, the global crisis has not been a deal-breaker for us, instead, it deliberately brought us a good time to buy a property in much more nontraditional ways. This means, it’s a refreshment period for the real estate market whilst investors are trying to apply different approaches. Did it affect the decision-making? Yes, but it didn’t change one’s intention of making investments.
Also Read: Four reasons to invest in real estate today