Top Menu

  • Home
  • Write For Us
  • Live Rates

Main Menu

  • Money Exchange
  • Career Advice
  • Home Decor
  • Global News
  • Business
  • Trading
  • Technology
  • Media
  • Home
  • Write For Us
  • Live Rates

logo

Header Banner

  • Money Exchange
  • Career Advice
  • Home Decor
  • Global News
  • Business
  • Trading
  • Technology
  • Media
  • FinTech Abu Dhabi Festival 2020 kicks off today

  • UAE allows 100% ownership of businesses for foreign nationals starting from December 1, 2020

  • Two men caught leaving London for Dubai with cash-filled suitcases

  • Rupee becomes 3rd best Asian currency

  • Ten caught for Money Exchange shop robberies

BusinessReal Estate
Home›Business›How COVID-19 Has Affected The Property Market

How COVID-19 Has Affected The Property Market

By Money Exchange News
November 9, 2020
86
0
Share:
COVID-19 Has Affected The Property Market

As you can imagine COVID-19 is having a devastating effect on the property market. Due to this virus, people are putting off all sorts of decisions. This includes the decision to buy or sell property. Not only that, with so many people being financially affected, property sales are at an all-time low. 

COVID-19 has dealt a devastating blow to the property market

There are several ways that COVID-19 is making life hard for those in the property business. 

1. No one is buying property. 

Thousands of people in London have either lost their jobs or are working reduced hours. There is major uncertainty about the future and what is going to happen. Due to coronavirus, we have seen a severe slump in the property industry. People are unwilling to buy or sell property right now. Most are waiting to see what happens, but there seems to be no end in sight. There are also other factors. For example, most buyers do not want to deal with moving at this point in time. 

2. No one is viewing property. 

No one wants to view property because of the risk of infection. Londoners are not willing to put themselves in danger of catching the virus. This is making it almost impossible to sell property. After all, if you cannot show someone the property it is unlikely they will buy it. There’s also the fact that lockdowns are making it impossible for people to move around. 

3. There is increased wear and tear on property. 

Because properties are standing open for longer there is increased wear and tear. Whether this is gardens becoming overgrown or the property falling into disrepair. Pest control is also becoming a serious issue during the COVID-19 crises. We have noticed a massive increase in properties which are now infested with rats, birds, cockroaches and other pests. The experts at London based company Best Pest Control note in their blog that pest prevention in lockdown has taken on a significant importance. These pests are causing immense damage to properties while they are closed. This must ultimately be repaired and costs money, making . 

4. Commercial real estate is being affected. 

COVID-19 is also affecting the commercial real estate business. All sectors are seeing a decline, including office and retail space, and also industrial properties. Hundreds of businesses are struggling to make money and are shutting down. In addition to this, with the economy in shambles, no one is opening up new businesses. This is causing a massive headache for people who work in commercial real estate. 

TagsCOVID-19 real estate crisisImpact of COVID-19real estate crisisreal estate markets
Previous Article

Al Fardan Exchange makes Senior Leadership changes

Next Article

Coronavirus: Who can avoid wearing face mask ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Money Exchange News

Money Exchange News Website is a fantastic platform for all our readers as we provide them with an ample of valuable information over a plethora of worldwide topics. It is a real honour for us to publish important news and current updates over matters like Business, Travel, Career Advice, Trading, Investment, Visa Rules, Health Tips and much more.

Related articles More from author

  • Google Rolls Out App Campaign Type To Re-Engage Existing Users
    BusinessDigital MarketingTechnology

    Google rolls out App campaign type to re-engage existing users

    January 2, 2021
    By Money Exchange News
  • Caesarstone Benchtops
    BusinessHome Improvements

    Granite Vs Caesarstone Benchtops: Which One Is The Best?

    August 24, 2020
    By Money Exchange News
  • Top Marketing Strategies
    BusinessDigital Marketing

    Top Marketing Strategies for Your Business During a Covid-19 Pandemic

    December 15, 2020
    By Money Exchange News
  • Online-Surveys
    BusinessTechnology

    Best Tricks of Online Surveys You Should Know

    September 27, 2020
    By Money Exchange News
  • corporate tax
    BusinessFinancial Tips

    What is Corporate Tax? And Things you Need To Know

    January 22, 2021
    By Money Exchange News
  • Scam targets China-New Zealand money transfers
    BusinessCrime And CourtsGlobal News

    Scam targets China-New Zealand money transfers

    September 9, 2020
    By Money Exchange News

Leave a reply Cancel reply

You may interested

  • Australian-Dollar
    BusinessCareer Advice

    Top 10 Highest Paying Jobs in Australia in 2020

  • corporate tax
    BusinessFinancial Tips

    What is Corporate Tax? And Things you Need To Know

  • ADCB Bank Egypt
    BusinessMediaMoney Exchange News

    Abu Dhabi Commercial Bank launches in Egypt

Recent Posts

  • Covid-19 Vaccine: Do’s and Don’ts after taking your first Jab
  • The Importance of Cash Management
  • Difference Between Disinfection and Sterilization?
  • 6 Important things to know before filing a Patent in India
  • What is Corporate Tax? And Things you Need To Know

About us

Money Exchange News Website is a fantastic platform for all our readers as we provide them with an ample of valuable information over a plethora of worldwide topics. It is a real honour for us to publish important news and current updates over matters like Business, Travel, Career Advice, Trading, Investment, Visa Rules, Health Tips and much more...
Fully Managed WordPress Hosting on SSD Drive
  • Recent

  • Popular

  • Comments

  • Covid-19 Vaccine

    Covid-19 Vaccine: Do’s and Don’ts after taking your first Jab

    By Money Exchange News
    January 25, 2021
  • Cash Management

    The Importance of Cash Management

    By Money Exchange News
    January 24, 2021
  • Covid-19 Vaccine

    Covid-19 Vaccine: Do’s and Don’ts after taking your first Jab

    By Money Exchange News
    January 25, 2021
  • Lights hath may cattle first had blessed god bearing bearing

    By Money Exchange News
    July 16, 2015
  • Home
  • Write For Us
  • Live Rates
© Copyright General News Blog. All rights reserved.