One year of COVID-19
The effects of the pandemic on real estate sales
Who would have thought, a year ago, that corona would affect us for such a long time? A lot has changed since March 2020, and the comfort of the own home has definitely gained new focus. This is not only where family life takes place but many people have also started working from home - and the home office is likely to stay. This trend also affects real estate sales, a fact that especially real estate sellers are profiting from.
There is an increased desire for home ownership
For many industries, the corona pandemic has proven to be a real stress test. The real estate market, however, has recovered relatively quickly after a first moment of shock at the beginning of the pandemic. During the last year, the RE/MAX real estate agents have noticed that during the pandemic, the desire for home ownership has increased tremendously. On the one hand this is due to the fact that property promises to be an investment resistant to crises during uncertain times, while on the other hand work life has changed considerably due to COVID-19. Many people have mostly been working from their own home office for more than a year now. This has proven to work rather well for many companies, so it looks like this trend is here to stay, even once they pandemic is over. This is why the own four walls are gaining in importance and why the desire for home ownership (respectively a designated home office) is increasing.
The effects on the Swiss real estate market
The tendency to work from home as well as an increased demand for home ownership leave their marks on the real estate market. The Realmatch-360 inquiry index shows that many Swiss regions are currently seeing a sellers’ market, which means that real estate sellers are profiting from increasing real estate prices. The offer of existing objects exceeds the offer of new developments. Thanks to increased flexibility in terms of work, real estate outside areas of high population density is becoming more attractive. The desire for more living space and a home close to nature has increased along with an increased focus on the home. Due to growing flexibility, commuting plays a less important role than before the pandemic, which increases the search radius for many people looking to buy property. Another trend we see is an increased demand in holiday homes in touristic regions. Potential buyers profit from persistently low interest rates that keep financing costs for real estate consistently low.
The benefits of selling property with RE/MAX
The corona pandemic has changed the real estate selling process considerably. Due to lockdowns and contact restrictions, communication has in big parts shifted to digital channels. Many meetings are being conducted online. This change did not prove to be a problem for RE/MAX agents, as they were specialized in marketing properties listed with them digitally (using social media, influencer campaigns, social profiling etc.) even before the pandemic.
People interested in purchasing can view properties from the comfort of their home thanks to professionally produced videos and 360° tours. For prospective home buyers, digital viewings offer the added benefit of repeated viewings while at the same time making a trip to the property and back unnecessary. But there is no need to worry - you will be personally guided through your virtual tour by a RE/MAX agent. Should the property prove to be of interest and should you as the prospective buyer meet the seller’s expectations, the RE/MAX agent will arrange for a personal viewing on site, always making sure that all behavioral rules and hygienic regulations are adhered to.
Thanks to the use of state-of-the art technology, RE/MAX ensures a transparent and fair price discovery process for both sellers and purchasers. Price fixing and unfair competition can thus be ruled out. Our technology offers property sellers peace of mind by achieving the best possible selling price for their property while offering buyers peace of mind by ensuring they are paying a fair market price, making it a real win-win situation for all parties involved.