Despite facing difficulties in the context of the Covid-19 pandemic, the real estate market is forecasted to have a recovery outlook and perform better in all countries. So if you are looking to get into the real estate business then it is a perfect time. A company like Southcourt Property with their excellent reviews are ideal if you want to start an estate agency and can assist in getting your working space optimized for estate agency if this is the line of work you wish to pursue
A recent report by the Urban Land Institute (ULI) and the auditing firm PwC reveals the impact of the Covid-19 epidemic on the real estate market in the Asia-Pacific region. This year is not too big, not as severe as many other regions of the world. This report is compiled based on a survey of 391 real estate professionals and 134 interviews. Respondents were investors, representatives of real estate companies, lending institutions, brokers, and consultants.
According to the report, many governments’ massive stimulus packages and employment support policies have temporarily prevented the effects of deep recessions. In many countries, renters in difficulty are supported by this package as well. As a result, the Asia-Pacific real estate market operates relatively well compared to other regions globally. Accurate Capital Analytics data shows that although the volume of investment in this market has decreased by 38% compared to last year, the selling price is almost unchanged at a stable level.
However, both buyers and sellers of Masteri Thao Dien For Rent in Asia-Pacific have difficulty in valuing real estate. While the buyers expect that the pandemic will slow down the price growth, they can buy real estate at lower prices. The sellers still have enough financial resources, so they do not want to sell cheap but expect economic recovery through the pandemic. This situation creates a large difference in price between the buyer and the seller.
Although the Asia-Pacific market is forecast to outperform other regions, the global economy is still facing a recession. Therefore the difficulty is bound to happen to anyone, from investors to banks. Tensions are likely to emerge, especially in countries like China, India, and Australia next year. Many experts forecast a series of defaults due to the economic recession by the end of this year. ULI-PwC research shows that investors’ profitability expectations in Asia and the Pacific this year have fallen to near the bottom recorded in 2009 – the time of the global financial crisis.
In China, small-scale real estate developers are having difficulty getting funding from banks due to tight liquidity. In India, the collapse of non-bank credit institutions has resulted in a severe shortage of capital for Nassim Thao Dien For Rent developers. In Australia, the pandemic’s impact, rising unemployment, and government support’s expiration make the real estate market forecast to continue facing many difficulties soon.
Meanwhile, Singapore, Tokyo, and Sydney are evaluated as three bright areas of the Asia-Pacific real estate market. All three are ranked as the region’s leading development and investment prospects, promising “safe stops in an increasingly hostile global environment.” In particular, Singapore’s reputation for neutrality has attracted many investors and business owners to invest, avoiding the current turbulence in Hong Kong.