The COVID-19, as widely and surprisingly know, has been able to weave its infectious self into the fabric of Society. The Virus has caused a highly unexpected pandemic, killing about 30,000 people worldwide as of 30 Mar,19. The Real Estate Industry has also had its fair share or the pandemic’s implications. Below are some of the Effects the Virus is having on Real Estate.
CLIENTS ARE NOT WILLING TO VIEW PROPERTY – As we all know, the Virus is transmitted through the air and has the tendency of affecting driver or passenger should any of them have. This has deterred many clients from coming to view properties as they are exposed to the dangers of the Virus.
COMPANIES HAVE PUT FACILITY PROCESSING FOR STAFF ON HOLD – Most Real Estate Brokers and developers that have initiated purchasing and rental deals with clients will have to put the process on a temporary hold. This because the companies themselves have to be on a break due to the Lockdown effective in Ghana and other parts of the world.
MORE CLIENTS HAVE AUTOMATICALLY RENEWED THEIR RENTAL DEALS – If you are already living in a rented apartment, townhouse or self compound house in this unfortunate season, you most definitely know this is not a good time to relocate. Even if your rental tenure has expired, moving into a new place will involve speaking to brokers and having viewings that put you at risk of contracting the Virus. This is somehow a positive for homeowners and management agencies.
In spite of these effects, one thing you can do is to keep in touch with potential clients via social media, SMS and Whatsapp messaging.
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