The coronavirus outbreak managed to bring significant changes in many various industries, including the real estate industry.
Vassilis Milionis, an entrepreneur and property investor from Greek, states that the real estate stock currently has a different status. It cannot be denied that this current situation is influencing the stock in the real estate market. This can be seen quite clearly on several of the top stock changes. For instance, the Real Estate Investment Trust of Pebblebrook Hotels significantly rose close to 20 percent on June 5th. Park Hotels & Resorts rose around 19 percent. Though the number of real estate stocks shows a promising increase, the number declines from the expectation in the end due to the global pandemic.
The most asked question for example, is it the right time to invest in the real estate stock right now? Properties and real estate are high-value investment assets. They are still considered as one of the best investment options. According to Vasilis Milionis, the real estate stock is still there. It only needs a significant pointer or simple push in order to increase transactions. The production of the coronavirus vaccine is expected to bring the market buying strength back. The future and people’s trust in the real estate industry will boost as well. So, transactions in the real estate stock will be normalized.
For those who are interested in investing in real estate or properties, the Greek property investor advises not to hesitate. The mortgage rate currently has been lowered with the 2-year fixed rates. Moreover, there is a great chance that the rates can drop even lower. There was also a surprising positive increase in the stock market on March 24th, 2020. It was because the Federal Reserve began to print money at that time. So, it is a good opportunity to invest in the real estate stock or property sector.
Homeowners can also make a decision to put their properties on sale. Though the property price is currently falling, Vassilis Milionis mentions that it will not last long. The real estate market even shows increasing sales even during this pandemic. It is because the new normal phase has been started where people are allowed to go back to work. People are also still aware of having a comfy living place for their family. The Greek property expert believes that the value of the real estate stock will be back to normal.
Σχόλια