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The coronavirus pandemic has caused much disruption to people’s lives. Many people have been forced to self-isolate, which means that they are unable to work or study. Many events – Glastonbury and Eurovision to name but a few – have also been cancelled as a result of the pandemic. It is fair to say that the pandemic has had a strong negative impact on the world. What is more, the pandemic has affected real estate markets across the globe. Let us, therefore, briefly explore how real estate markets have been affected.

The real estate market has suffered at the hands of the coronavirus because people are unable, and unwilling, to visit properties. Many open houses have been cancelled, for example, which means that many people will be unable to sell properties. Moreover, apartment tours have also been reduced – some have even become online video tours. In essence, the notion of self-isolation has made it very difficult for people to view and, consequently, purchase properties.

This is particularly the case in New York. According to Halstead Property, there were just under 4000 showings scheduled this past weekend, which is a massive drop from the typical number of approximately 6000. This seems to confirm the thesis that people are unwilling to visit properties. Of course, this amount of uncertainty will cause the demand for new properties to decline. This will, in turn, cause house prices to decline. This will be the case in some of the worst affected countries, such as Italy and Iran, for example.

In conclusion, the coronavirus pandemic will continue to negatively impact global real estate. Real estate markets ought to be monitored closely in the coming months, in order to see how things change.

Running a successful real estate company is a difficult job when you consider all the factors involved. In order to run a successful real estate company, you must have great knowledge of the industry and the locations in which you work. Moreover, you must have exceptional organisational and time management skills. These are just a few of the characteristics required to run a successful real estate company. Having all of these qualities is difficult, so we see a large number of real estate companies decline overtime. One company that is a recent exemplar of this sort of decline is WeWork. WeWork is a commercial real estate company based primarily in America. They tend to deal with technology start-ups; however, recently they have declined massively. Let us briefly explore what has happened and how this could affect others.  

According to many sources, WeWork has suffered many losses as of late. The company has, for example, had losses of over a billion dollars in the first half of the year. This staggering number has meant that WeWork and We Company have suffered greatly. The firm has been placed in a tricky position and its future is looking quite shaky. If the company were to collapse, we could see a shift in how office space is distributed in New York.

What is more, if WeWork were to suffer a bad demise, it is possible that landlords in Manhattan could also suffer too. This would affect the real estate market meaning that it too will suffer. It is, of course, not nice to see a company in this sort of position; however, it is mainly down to poor management. It will be interesting to see whether the company can recover, or whether WeWork will slowly fade into the background.

Dubai Property Investment Massively on the Rise

Dubai is a place of extreme beauty and immense wealth. It is home to some of the world’s most famous buildings and attractions – the Burj Khalifa and the Burj Al Arab to name but a few. With this in mind, I think it is fair to say that a trip to Dubai is going to be high up on some of your lists. Naturally, you want to visit this place, in order to experience the mesmerizing things that it has to offer. This does not mean, however, that you will want to live there. Living in Dubai seems expensive. In spite of this, property investment in Dubai seems to be on the rise in some cases. Let us, therefore, briefly explore cases in which property investment is on the rise and potential reasons behind the rise(s) in property investment.

According to some sources, property transactions in Dubai have risen as of late. Between June and August, there were 8833 property transaction sales, which is most certainly higher than in previous years. One reason for this increase was that more people could afford to live in Dubai due to the provision of more affordable houses. In addition, new payment schemes have meant that investors and consumers can pay for their property over a longer period of time, therefore making it more affordable.

Despite these increases in property investment, we must naturally ask a few questions. Firstly, we must question whether or not this increase in property investment is sustainable. If it is not, then the consequences on the economy and housing market could be quite destructive. What is more, we must also ask whether these are the best offers across the globe. If they are not, investors may look for other more lucrative opportunities.

In summary, it is good news that the Dubai property market is booming, and that investment is on the rise. We must, however, ensure that this investment is going to be long-term, in order to maintain the strength of the economy of Dubai.