How will the pandemic affect behavior? Adam Redolfi, Managing Partner and International Real Estate Investment Consultant at Barnes International, predicts these 4 key trends:
Investors will look to move forward with a defensive strategy that will likely include real estate from highly liquid individuals and could also include gold for traditional investors
A Surge of Divorces:
China experienced an increase in divorces following months in lockdown which is likely to occur in the United States. This will likely affect the real estate market with the search for new housing.
The New Definition of Luxury:
Larger living spaces. After being confined for a long period of time, people will start to value large living spaces with spaces with home offices, outdoor spaces, and amenities.
The New Buyer Equation:
Residents of large cities will flock to areas with less density that are more affordable
The Digitalization of Showings:
In order to adapt to the new constraints on showing property, the industry must accelerate the adoption of modern tools including Matterport VR tours and self-directed tours through FaceTime and Zoom.