PropertyGuru looks at the impact Covid-19 has had on the property market

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While Covid-19 brought about significant economic changes, the housing industry has experienced its share of these shifts. If you are planning to buy property, it will help if you learn about some of these trends to help you make buying or selling decisions.

Property experts and agents have reported that massive financial losses were experienced when the pandemic first hit, as no one was prepared to face the new challenges it posed. However, after a while, the industry was able to make a significant rebound. People familiarised themselves with the situation and found ways to adapt.

One of the positive changes we’ve seen during the pandemic is in technological advancement. The pandemic has brought about a remarkable shift in how technology is utilised. For instance, people are able to work comfortably and efficiently at home in many roles to an extent that would have been unthinkable in previous decades. And the property market has proven particularly good at adapting to change.

Before, one would meet with a potential buyer or seller, have a house tour, negotiate the price, and physically sign property documents. However, that is no longer the case. PropertyGuru largest property portal is one great example of technological advancement in the world of real estate.

One can easily buy property from the comfort of their couch, have a virtual house tour, negotiate prices online and even sign some property documents using an e-signature. 

If you’re interested in the latest property trends, the below infographic illustrates the latest research on real estate trends and how Covid-19 has affected pricing, selling, and property buying.  Check it out below.

PropertyGuru infographic

We’re very proud to bring you this feature in association with PropertyGuru. For more features, please pay a visit to our lifestyle page.

Related resources: https://www.propertyguru.com.sg/property-guides/propertyguru-property-market-index-q2-2020-how-has-covid-19-affected-the-singapore-property-market-27076

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