London in the crosshairs of Covid: worrying forecasts

Without doubt, it is impossible to decree a nation in the world that has not been hit hard by the pandemic emergency. Regardless of the reference sectors, the economic fabric of any country has been severely tested. As we have found in previous guides, the government guidelines in support of the population have not been few. Some states have preferred to raise interest rates. Others by decreasing them hope for a faster economic recirculation.

Many owners have opted to withdraw their property from the market, to avoid excessive devaluation. But if until now we have dealt with analyzing what has happened, in today's column we will change perspective. We will give answers to the main questions posed by industry experts. In particular, the London situation will be the subject of our study, which, as we have already seen, is very critical. So, if you are curious or interested in the real estate of this fascinating city of yesteryear, we can start!
We can inaugurate our studio by stating that there is a very strong pessimism in London in terms of the third wave. Not only at the health level but also with regard to the economy and real estate. Although Covid has reached really frightening numbers, the measures adopted in this city do not seem to be such as to guarantee a containment of the contagion curve. Furthermore, there is no lack of cases of insensitivity to this issue, considering that many seem not to want to worry at all about limitations. The news programs go crazy every day with news relating to the normal course of life despite the precautions should lead to a reduction in sociability and gatherings. Therefore, in this city, a sudden approach of the so-called third wave is expected.

Real estate is hit hard especially with regard to small rental apartments. The absence of green spaces and the cut in taxation on real estate has made it more attractive to sign sales contracts, compared to rentals. We also remember that in London, the '' culture '' of acquiring a property is almost completely absent. Also thanks to the multi-ethnic character that characterizes the city.

Therefore, a strong tightening of restrictions, already poorly respected, is expected, and a reduction in interest in the purchase of properties in the city center. This is due to the green effect aroused in periods of lockdown, which has seen the interest in the most natural areas and surrounded by greenery stand out, compared to the large shopping streets and in general to the typically nightlife areas. The hypothesis is that of a real race to deal that is already taking hold in this period. And a gradual decline in the rent curve. In this case, the question to ask is not '' how the situation will evolve '', but how long the boom in sales will last at the expense of leases. If you are interested in learning more, you just have to keep following our portal. Every day you will find many new articles dedicated to world real estate. With particular attention to the dynamics connected to the Covid emergency!

Search in Realigro

 

    Realigro Account

    • Twitter
    • Facebook
    • LinkedIn
    • Instagram
    2005-2024 REALIGRO REAL ESTATE LTD. All Rights Reserved - VAT Nr: 893969932
    Neikos Digital Agency
    1. Preferences

      For a better use of Realigro website, set your preferences for language, currency, square meters or sq ft.

      Set now Don't show again
    BB