Flexibility in Real Estate during the Covid-19 Period

Flexibility in Real Estate during the Covid-19 Period

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Flexibility in Real Estate during the Covid-19 Period

Buying a property during the Covid-19 pandemic has proven to be one of the most challenging things to do. This is because there is a very high need for a property that is flexible. There has been a significant change in the market demand and the will of different people to purchase properties in the real estate market. This, at the very beginning, harmed the market. This made property costs go down drastically as people focused on other areas of interest, mainly health-related. At this time, most of the people who are risk-takers bought the property at a low cost (Sepe, 2021). Buying a property during the corona virus pandemic is very risky and, at the same time, challenging. The most important thing is flexibility since following Covid-19 rules needs a lot of space. Therefore the buildings and offices should be flexible enough to be re-arranged according to the owner’s desires.

Therefore, with the new aspect of real estate, different developers have come up with different ways to ensure that everything needed by their customers is available. This has seen a new kind of buildings coming up that have massive space and are very flexible to fit the owners’ desires, which has proven very beneficial (Bettaieb, & Alsabban, 2020). This has also changed the investment direction and goals of many companies. Some are investing more in real estate while others are not. Some other prominent companies also buy property, which is interesting, especially for companies like Google, Amazon, and alphabet. Therefore, this paper discusses the new trend of flexibility in real estate and how different organizations and companies respond to it in terms of investments and the purchase of new properties.

References

Bettaieb, D. M., & Alsabban, R. (2020). Emerging living styles post-COVID-19: housing flexibility as a fundamental requirement for apartments in Jeddah. Archnet-IJAR: International Journal of Architectural Research.

Sepe, M. (2021). Covid-19 pandemic and public spaces: improving quality and flexibility for healthier places. URBAN DESIGN International, 26(2), 159-173.