Covid-19 has affected real estates business greatly in a negative way as compared to the previous years. This is because of the fear people had towards the spread of the virus. A lot of buyers and seller during this Corona season was captured by the fear per the rate the virus was spreading and for that matter ceased negotiations, therefore the rate of buying and selling reduced drastically.
The need to save money; another effect Covid-19 has on real estate now is that, people feels like saving money for their upkeep as we go through this hard times of Corona, this makes it difficult and cut off the interest of buyers to make a bid for houses, causing a huge drainage in the real estate business.
Restrictions on human movement; Since the Corona started there is a series of lockdown in various countries, this makes it difficult for people to move around and go in for a house purchase and is a great blow to the real estate gurus.
Shortage of Housing and properties; due to the great reduction in buying and selling the real estate dealers are also unable to put up new housings and properties all in the name of COVID-19.
There has been great measures in place and we are hoping we get over COVID-19 so that our real estate will bounce back hard on its feet. Let’s all adhere to the COVID-19 protocol as we fight COVID-19
Source: Andy Opoku Dwomoh