Coronavirus turned out to be powerless before Russians buying up housing abroad

Coronavirus and the closure of borders between countries could not affect the activity of buyers of foreign real estate. More than 60 percent of investors and advisors, including those from Russia, considered the pandemic an opportune time to complete deals. This is stated in a study published by the international real estate broker Tranio.

Tranio experts conducted a survey among their clients to identify the expectations of foreign real estate market players during the pandemic. It was attended by about 1.2 thousand respondents – investors, consultants and sellers of real estate, considering transactions with housing and commercial properties mainly in Europe.

The study showed that the coronavirus was powerless before buying foreign real estate – 61 percent of investors and almost as many consultants (60 percent) are still looking for attractive offers on the market and are ready to make deals. Of this number, 70 percent of foreign respondents and 56 percent of Russian-speakers are actively searching. The remaining investors and specialists (respectively 39 and 40 percent) expect when the quarantine ends.

It also turned out that in conditions of mass isolation, half of investors (51 percent) are ready to consider the possibility of making transactions remotely, without viewing the object. 62 percent of English-speaking respondents and 46 percent of Russian-speaking people are eyeing remote transactions. 49 percent of all respondents do not consider this option.

Earlier, in May, Europe predicted a massive drop in housing prices. According to the results of 2020, property prices in Spain, Ireland, Italy and the UK may fall by 3-3.5 percent. In Portugal, the decline will be 2.5 percent, in Belgium, France and Germany – 1.2-1.4 percent. The exception will be Switzerland, where even in 2020, despite the coronavirus pandemic, real estate can rise in price by 0.5 percent.

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source: rambler