Fear of new confinement and contained demand intensify home purchase

The contained demand and a greater interest in housing located outside the urban area precipitate the purchase decision of many buyers concerned about the return to confinement in a second wave of the pandemic, according to the latest barometer of the real estate sector developed by Quality Real Estate. The company concludes that the third quarter of the year has remained active in transactions, prices have remained and properties that were not in the urban area have been sold.

Real estate agencies indicate that the third quarter of the year remains marked by the influence of covid-19 on the real estate sector, as well as by an increase in transactions in the months immediately following confinement.

Fear of a further reduction in mobility has changed the type of housing sought by the buyer, which now shows greater interest in homes that are on the periphery, with lower population density, and which has more green or leisure spaces. Houses that are characterized by terraces or plots, with greater luminosity and in quieter environments. This type of housing, more common indoors than in coastal areas, usually has common areas such as swimming pool, sports court, playground, etc.

Home prices have experienced slight drops in some cities and areas, except for homes with the characteristics already mentioned above. The contained demand dragged by the pandemic has precipitated during these months, the decision to buy many families, for fear of a second wave.

Quality Real Estate highlights that a decrease in the size of agencies operating in the market (staff in templates) has been detected. In this sense, Ignacio Castillo, CEO of Quality Real Estate, Quality Real Estate, states that "in real estate quality offices, in particular, the number of autonomous advisors are increasing; I also think it's a good time to grow, as there are more people willing to develop a career in the real estate sector."

Virtual open house The QRE report ensures that most companies belonging to this group will continue to support their investment in Marketing in the coming months, especially in real estate portals, social networks, as well as SEO that enhances the digitization of the company. However, most have looked very closely at their costs and will remain in that line. Real estate companies, which have already demonstrated their ability to adapt during the pandemic, are preparing to adjust the security measures of the new reality for their clients, thanks to new technologies. It is committed to "open house virtual" that are open days of open doors, which allow potential interested parties to see a house in 360o, online, as if they were in the same house

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