Real estate is still a popular investment pick. Here's what you need to know about buying in a downturn. (via CNBCMakeIt)
Buying a home
"In most historic recessions, the property market has either remained largely resilient or was only impacted across certain real estate sectors," noted Dhruv Arora, CEO of digital wealth manager Syfe.Notwithstanding the short-term difficulties of conducting in-person viewings, that means that now remains a reasonable time to think about buying a home once cities and states reopen.
"Transactions will start rising again in coming weeks but are still likely to be sluggish compared to late 2019/early 2020," he said. "We're already seeing a pick-up in recent weeks, with new 'for sale' listings rising the past few weeks and rising enquiries on Domain from potential buyers." As with residential homes, buy-to-let properties suffer the same logistical hurdles right now in terms of conducting viewings and processing sales.Commercial real estate, which encompasses the hard-hit hotel and retail sectors, potentially poses the biggest risk for investors., with hotels & resorts and retail spaces down 48% and 40%, respectively.
Sectors with "strong fundamentals," such as industrial, residential and specialized real estate, show particular signs of resilience, said Arora. Meanwhile China — initially at the forefront of the outbreak and now leading the charge on economic reopening — offers cues as to which sectors thrived under the pandemic, chiefly health care and logistics.
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