Together with the relaxation of the corona lockdown, the real estate sector was also allowed to start again. And yet in this sector, too, not everything will be back to the way it used to be. Here too, a ‘new normal’ will emerge. Which trends are these exactly? Read on quickly because we have listed them for you.
Corona trends and the ‘new normal’ in the real estate sector
During the lockdown, potential buyers could register on a waiting list and they did. As a result, it is now a super busy sales period as all these appointments now have to be booked.
Yet there is also a wait-and-see attitude in a group. 1/3 of potential buyers are still waiting because they are in a job insecure situation or think prices will fall further.
Approvals for new home loans dropped according to a survey from the Royal Intuition of Chartered Surveyors. Some people are worried about the economy and war turmoil that will affect price and cost of living.
Different wishes from buyers
It is predicted that new triggers will come and that buyers have different wishes for their new home. If you are planning to buy a new home you can easily figure out your loan with a mortgage calculator based on your current income.
To calculate your maximum mortgage, the lender looks at your income and financial obligations. The higher your income, the more you can borrow.
Working from home makes people realize once again how much time they waste in traffic jams. Mobility and commuting are therefore seriously questioned, which makes people want to live closer to work.
People who live in an apartment without a balcony crave a green environment more than ever. This target group now wants to switch quickly to a house with a garden.
And telework will also be here to stay. Companies where working from home for 1 to 2 days will become the norm are no longer an exception. People want to be able to work comfortably from home. Preferably in a separate closed office.
As in many other sectors, digitization has also accelerated in the real estate sector. Virtual tours are becoming the new first visits. Only if the buyer likes this virtual visit will he really request a building visit. This can certainly mean a time saving in the sales process.
Everything that does not add value for the customer will be automated. Customer contact is the most important and comes first.
The digital signature is becoming the norm. More digital signatures were placed than before the corona outbreak. Here too, both the customer and the broker save time with administrative items.
The coronavirus changes a lot, but a number of important things for the real estate market remain unchanged. But if there is less interest in real estate for sale, the bidding battle becomes less intense, which means that competition on the purchase side is considerably lower.