(STL.News) A bright spot in an otherwise dreary 2020 was the real estate market. After spending months shuttered at home because of the coronavirus pandemic, many of us discovered how much they can buy online and that this was only going to increase in speed in the months to come. Despite the coronavirus, the real estate sector has seen a resurgence as more and more people are looking to invest in urban and semi-urban properties from where they can work from home or relocate and work from a country of their choice.
Future of Real Estate
Now, as the risk to human life is fast reducing due to the availability of vaccines in many countries, it is worth imagining what the ‘new normal’ will look like as steps are being taken towards a fully productive economy. Nowhere else is this acceleration more profound than in the real estate market, as lack of property and low mortgage rates have pushed the prices sky-high and created more wealth for the homeowners.
Experts are predicting the housing demand to increase further in 2021 as buyers need large spaces to accommodate senior citizens, parents who work from home, and students who are left with no choice but to attend classes virtually.