 |
| Inside Hotel |
It seems that the Corona virus that originated from China will affect a lot of things around the world, and here is the real estate market in the British capital London affected after it was in a state of recovery as a result of the demand of investors coming from China during the past months, especially in the vital and important areas , To reach an unprecedented situation. However, the situation changed after the spread of the Corona virus and its transmission to many countries of the world.
The rise of Chinese acquisitions previously
A British real estate company called Hampton International reported that despite an estimated decrease of three percent, which witnessed the last six months of last year 2019 in the number of high-priced houses that foreigners buy in London, but the Chinese acquisition was up by six in 100% of the number of buyers in the main regions. This is because what Chinese investors bought in the London real estate market rose by one company, Harrods Estate, from two and a half percent in 2016 to twenty percent last year, according to some media.
Corona destabilizes the internal situation in China
According to an expert from a company called Property Vision, Chinese buyers have rushed to invest in the British capital because of the falling prices as a result of the British currency, which was not stable. However, the matter has changed completely because the effect of the Corona virus has destabilized the internal situation in China, so the banks there are closed or almost It is closed, as are the offices that work in law, and almost everything there is under health control, and it is very difficult for anyone to travel in order to follow real estate affairs in the British capital or others.
Exhibition marketing stopped
In another interview with the CEO of a company called IQI Gwaiya, and most of its work is focused on Chinese investors who want to work outside their country, Mr. George Schmel stressed that the Corona virus has led to a lot of slowdown in the investment movement, especially for investors coming from China, so what was being marketed through Real estate exhibitions in the major cities of China and in Hong Kong also ended up currently, and marketing through machinery, designs and maps is no longer possible, and therefore the London real estate market lost an important part of the actors in it, and the Chinese presence no longer exists except for those who were originally outside China when they Corona announcement and the subsequent repercussions, such as quarantine and stopped most of the means of transportation to travel from China to it.
Real estate investment online
Other real estate experts felt that Hong Kong was months ago crowded with real estate developers and investors, but their investment programs were almost completely halted, and the investment that will happen will be very little compared to what was expected or planned. Especially since many Chinese investors stopped their real estate dealings until things became clear later.
However, an opinion emerged that contradicts the previous one in terms of increasing fears of the impact of the Corona virus on the London real estate market, as long-term projects that extend to more than four years can be invested in, whatever the circumstances. The stages of construction and waiting for completion are still in place but the matter may differ if the spread of the virus lasts a year or more, and here investors may go to buy through what is offered on the internet, and deal with specialists, lawyers and real estate development companies remotely. Quarantine and fear of corona infection made people sit at home, giving them more time to search the Internet for what they wanted.
