The pandemic and confinement froze the real estate market and also affected it in such a way that we could not have imagined. Countless people, service companies and others asked tenants for time and adjustment in the payment of rent. However, between the fourth quarter of 2019 and the fourth quarter of 2020 the price of homes has recovered so abruptly that 37 rich OECD countries have seen house prices rise almost 7%, the highest year-on-year growth in the past two decades.
The wealthiest people in various countries have fled cities in search of larger suburban homes with more outdoor space in the anticipation that they will not need to move to offices even after the pandemic ends. Cities close to cities and with easy access have seen property values rise, such as Bishop’s Stortford and Winchester. Whereas, in Germany, properties are sold within two weeks of being included in the sales lists. Y in Portugalforeigners have been buying houses despite not having personally seen the properties they are buying and prices rose 6% year-on-year in the quarter of 2020.
Many investors are in a better financial position than before the pandemic, spending less on vacations and restaurants And therefore they can spend more on buying homes, hence the importance of mutual and listed funds for investors to take advantage of this momentum.
