The coronavirus pandemic affects almost everything in today's business world and modern people's life.
The real estate industry is said to be the one that affected the most. People said that the real estate business would and is currently slowing down; some others even said that this business is dead. People are afraid to put their houses on sale or start investing in property. Vassilis Milionis said differently.
According to him, real-estate/property is still a profitable investment. Even though in reality, it is pretty much affected by the pandemic, the real-estate expert, and the big names working behind the scene to keep this industry gear keep moving. The stock of several real estate companies is indeed falling. However, it doesn't display the future of this industry, which he said still on a safe/bright path.
There is an interesting statement about the real estate industry in this pandemic. It said it is similar to the iPhone. People are waiting for the chance it will be released, and they will go buy it right away. Real estate also has that kind of situation. Currently, the consumer still is limited by the travel restriction and social distancing status. However, once those are lifted, Vasilis Milionis believes that there will be huge numbers of people buying the property products.
As for now, the real estate industry is depending a lot on the technology. The internet technology that has grown so fast allows the expert in this industry to keep connected with the customer as well as a promising buyer. As more people spend their time at home, they are more likely to use the internet than before. This is the area that the real-estate expert tries to aim. And it did work. The interest and even demands on the property product are still high these days thanks to the online system.
The promising future and an opportunity to change into, maybe, a better system is right in front of everyone's eyes. The business in the real estate industry might be pressured today. And, it might take at least a year to recover and show the best sign.
However, Milionis advises that people, especially homeowners, don't need to hesitate to make a move. Selling a house right now could be a great decision because once the pandemic is over, that asset will multiply in value. As always, the property is one of the best investments.