As the world returns to normal, the buying and selling overseas property real estate market is picking up pace at record levels both for sales and rentals, but what will the future hold?
The pandemic has had a major impact on the property market, much as it has on everything else. However, as we near the light at the end of the tunnel, what will the post-pandemic property market look like? Much has changed and many questions need to be asked. How quickly will travel restrictions be lifted? Will there be further waves? When will short-term rentals return and which areas will offer the best results?
Nothing is set in stone, but we can make a few educated guesses. 2022 has been a bumper year as people finally are allowed to travel again.
A very different recovery
Predicting what’s about to happen is difficult because we’ve never had a crisis like this. Although we’ve had pandemics before, we’ve never had the entire world go into lockdown with life continuing via online technology.
This is not an economic crisis born out of weaknesses in the system – instead, it comes from a health crisis. That means there is a lot of pent up elasticity in the system. As things return to normal, economists are beginning to predict rapid growth for 2022 and 2023.
This could create a positive environment for holiday homeowners as people take the opportunity to travel as soon as it is safe to do so. When this will happen exactly is unclear, The 2022 Holiday season has seen its busiest year on record.
Gold standard performers
When the economy gets uncertain investors to tend to retreat to the tried and tested stocks – those which can be relied on to deliver returns come what may. And the same will probably prove to be the case in the property sector.
Those countries and cities which have traditionally performed well will most likely be the ones that offer the most reliable investment options for the time being.
The pandemic put property markets in stasis. Everything was put on hold as the world struggled to sort itself out. As things pick up, countries – and their property markets – are returning to normal at different paces depending on how badly they were affected.
However, return to normal they will and the chances are the quickest will be the perennial European favorites such as Spain, France, Portugal, Cyprus, Turkey, and Greece.
If you’re looking for vacation lettings to bounce back immediately, you may not be disappointed. The pandemic laid waste to the holiday season in 2020 and has already taken a large bite out of 2021. With the longest day already behind us, but 2022 has seen record numbers of renting across the European Nations.
For now, buyers and owners will both be looking for solutions to keep things ticking over in the short term. This will almost certainly mean a focus on longer-term lettings in order to earn a monthly income until the holiday season kicks back in.