One year after the start of the pandemic and the first lockdown, how has the real estate market reacted?

10 March 2021

Many of our clients are not aware of how the property market has reacted to the pandemic or how prices have developed at the moment. Here is a brief overview of the current situation.

What is the demand like at the moment? And what is the trend?

The demand is clearly going in the direction of a detached houses with space, both inside and outside and closer to nature and the outdoors. The demand is clearly going in the direction of single-family homes in the countryside with space, due to, among other things, working from home and, in the beginning, home schooling. The demand for flats has eased somewhat for families with children.

How are prices behaving?

At the beginning of the pandemic, it was rumoured that prices might stagnate or drop slightly, but in general prices have continued to rise sharply, to the delight of some and the chagrin of others. Especially, as mentioned, for spacious houses with outdoor gardens. Properties without outdoor space are a little more difficult to find at the moment as people long for an outdoor space due to the constant stay at home. A separate room for a home office is also in high demand.

What about offices and commercial space?

Personally, we are more specialised in residential properties and less in offices or commercial premises, however, we have noticed that the demand for home offices has decreased in individual properties in this area, and companies that were still looking for new offices before the pandemic have stopped looking because they have completely converted to home offices.

This information is based on our own experience, but it has also been confirmed to us by various competitors.

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