Property Market and COVID-19

Rental Market and COVID-19

Stellax keeps monitoring the market during the unusual times. Part 2.

In addition to the previous post about the rental market, Stellax would like to share some insights regarding the property acquisition market.

The 1st picture depicts dynamics of the asking price during last 4 months (Index, December 20 =100). Despite the coronovirus crisis the dynamic continues to stay positive.

The 2nd picture shows a dramatic fall in the number of properties sold in March (Index, December 20 =100). It was almost half the properties sold in February, since the spread of coronavirus slowed down business activity in the country.

According to the 3rd chart, the amount of time looking for a buyer significantly went down to 40 in March (Index, December 20 =100). Once again most likely both buyers and sellers had to speed up their decision making during increasing severity of anti-corona measures by the government.

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