Covid-19 – Effects on the European real estate market

The European residential market has got badly affected by the pandemic-induced lockdowns and subsequent decline in the GDP activity. From practical issues such as a temporary halt in viewings to the ever-increasing lack of confidence in the market due to fears of economic downfall, insecurity about employment and income prospects all have left a turbulent shock to the European market.

Britain: Most of the estate agents have shut down their offices, in person viewing of the properties have been banned. Furthermore, construction of new homes and on building sites have been mothballed, which eventually might lead to a longer-term impact on the supply of new homes.

Please read the full article at Global Property Guide.

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