Post by account_disabled on Jan 24, 2024 2:58:59 GMT -5
The pandemic brought a lot of uncertainty with it and not only in the real estate sector. With stay-at-home orders remaining in place across the country, many people were confined, unable to go to the office, visit friends or family, make a quick trip to the grocery store or get their scheduled vacations. On the other hand, many people lost their jobs or saw their incomes drop significantly, which meant that rent was difficult to pay for many tenants. Let's not forget that in the capital there was also a mass exodus of young people or students, who returned to their hometowns and left their rented apartments. To help avoid another economic crisis, accompanied by quarantine measures, there was also help for landlords in sectors that had activity closures such as: bars, restaurants, shops, etc. but not housing. This had a knock-on effect, which significantly reduced rental income in the long term and increased the stock of housing available for rent.
Consequently, the market saw a decrease in the price of residentia Job Function Email Database rentals and, to a lesser extent, of commercial units. According to a DEV INFO market observation, after the end of the quarantine, in the June-July period, prices fell due to the increase in supply from the increase in the number of apartments left vacant by students, those who left the districts or individuals who remained outside Albania from the closing of the borders. Another reason for the price reduction of average rent apartments was the drop in income for many family members who lost their jobs due to the Covid-19 crisis, who negotiated with the owners. Is it good to invest in real estate in times of crisis? History has shown that in times of crisis, the largest number of future millionaires emerge, as the latter are investors looking for opportunities, or in other words, potential buyers of strategic assets, which in times of crisis have a reduced price.
However, buying a property requires a more extensive and careful analysis to make this important financial decision. Market in 2022 Currently, according to data available to DevInfo, rental prices are rising and there is no reason to believe that this will change anytime soon. While many elements combine to shape market prices, a few key factors have a major impact on this trend. One reason to expect an increase in rental prices is undoubtedly a growing demand in the market, since every activity has returned to normal and on-remote work has almost been exceeded for all sectors. Also, we as Dev Info have put There is already a shortage of inventory in some rental markets and this will drive up prices.
Consequently, the market saw a decrease in the price of residentia Job Function Email Database rentals and, to a lesser extent, of commercial units. According to a DEV INFO market observation, after the end of the quarantine, in the June-July period, prices fell due to the increase in supply from the increase in the number of apartments left vacant by students, those who left the districts or individuals who remained outside Albania from the closing of the borders. Another reason for the price reduction of average rent apartments was the drop in income for many family members who lost their jobs due to the Covid-19 crisis, who negotiated with the owners. Is it good to invest in real estate in times of crisis? History has shown that in times of crisis, the largest number of future millionaires emerge, as the latter are investors looking for opportunities, or in other words, potential buyers of strategic assets, which in times of crisis have a reduced price.
However, buying a property requires a more extensive and careful analysis to make this important financial decision. Market in 2022 Currently, according to data available to DevInfo, rental prices are rising and there is no reason to believe that this will change anytime soon. While many elements combine to shape market prices, a few key factors have a major impact on this trend. One reason to expect an increase in rental prices is undoubtedly a growing demand in the market, since every activity has returned to normal and on-remote work has almost been exceeded for all sectors. Also, we as Dev Info have put There is already a shortage of inventory in some rental markets and this will drive up prices.