The property market, like almost everything else, may not be the same when this is over. I hope you and your families are well during this time.
How we’re dealing with it
The analytics of our niche portal https://moulin.nl for March show a reduction of property requests by 30-40% and visitor totals are down by about 20%. The information requests that are coming in are mostly serious though and directed towards properties with an attractive opportunity due to location and/or price.
As we are facing an unexpected economic downturn, some businesses may not return after this is over. We will all need to chip in and be loyal to those affected most. Our business, being relatively small and lean, is of course affected but we will stay afloat. But we hope for a rapid global resolve.
Of course France, Spain and Italy have been hit particularly hard as they were forced into near or total lockdown. But, there are also positive soundings. All of our partners are individually safe and still in good spirit. We have spoken with a number of them in France, Spain and Italy and feedback is similar.
Our agents all work from home right now and will offer virtual tours if available and otherwise make sure there is well coordinated follow up during the next few months and ready for visits as governments lift travel bans.
Our property partners’ response
We wanted to know how our partners are dealing with this situation. So we straight up called and asked them.
Everybody agrees that this will have negative consequences on their business.
On the question ‘how long do you think the effect on slow business will last?‘, the mean answer was between 6 and 9 months.
One smaller agent in France sadly told us this situation should not last too long because they’re hurting.
We have no idea how the property market will react longer term, although we could argue that there will be pressure again.
At the same time, attractive locations are always in demand and many people looking for a second home or a better primary residence alternative abroad may now be searching in more rural areas. We have even heard from someone who said that he will only price his house in physical Gold. This is what printing trillions of fiat currency does to sentiment regarding possible hyperinflation or more probable stagflation.
Hopefully Alex will be back soon and drive some interesting proposals your way.
Please stay safe and take care of your family,