The COVID-19 crisis has wreaked economic chaos around the world. Many important sectors including offline retail, tourism, hospitality, transportation, and entertainment, have been especially hard hit by the economic downturn. However, despite the slowdown of the UK economy, the property market
is still a viable investment option that today’s investors are finding just as safe, and more affordable, than ever. With that being said, there are many reasons why it’s still safe to purchase residential property in a post COVID-19 world and we are going to take a look at some of them now.
Let’s get started:
Decreased Property Values -
reduced purchasing power and demand has an effect on property values. This makes now the best time to purchase a home at lower prices. And, when the economy picks back up again, property values will increase.
The Housing Market Isn’t Always Affected By The Stock Market -
the housing market and the stock market work in very different ways and they don’t always have as much of an effect on each other as most people assume. In fact, investors should temporarily move away from the stock market until the economy begins to recover and they should focus their investments on the property market instead.
A Housing Market Crash Isn’t Guaranteed -
when the economy is on the decline, a housing market crash isn’t guaranteed. In fact, home values only dropped during other recessions significantly in 2008, with other years seeing only minor changes.
A Place To Live Is Still A Requirement -
the pandemic will eventually end, the economy will recover and people will start buying homes again. Still, even during an economic crisis, people need a place to live and this can benefit those purchasing property to let.
Continued Appreciation - owning residential property
typically guarantees an appreciation in wealth. This is because purchasing residential property assures financial stability. Even a depreciated property purchased during an economic downturn will see a steady increase in value over time. It’s possible that the property could gain up to 20% in profit in just a few years.
Contact Borland Property
To learn more reasons why it is safe to purchase residential property in a post COVID-19 world, contact Borland Property
today and speak with a property expert who can answer any questions you might have.
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