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2021 Interview of 429 Experts around the World on Covid-19
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Muiru DavidCountry: Kenya
City: Nairobi
Position: Managing Director
Organization: Gimco Limited
On the whole, what was the percentage change in housing prices in your city during end 2019 to end 2020In your opinion, what will be the percentage change in housing prices in your city during end 2020 to end 2021
When will the property markets recover after Covid-19?
| Sector | Answer |
| Agricultural land |
|
| Urban land |
|
| Office |
|
| Shopping |
|
| Industrial properties |
|
| Hotels |
|
| Resort properties |
|
| Rental housing & rental apartments |
|
| Owner-occupied apartment or condominiums |
|
| Detached houses, rowhouses or low-rise residence |
|
| Residential land subdivision |
|
| Retirement living |
|
| Overall Assessment for your country |
|
What are ‘new normal’ in real estate in your opinion?
1. Office space totally comprised by ''working at home'' hence new blocks may remain with substantial voids for long. 2. Government and Government institutions now virtually the only major consumers of office space 3. Car park rentals in the commercial buildings badly affected as ''working at home'' previously hiring car space no longer need them though many holding onto the office space. 4. Property foreclosure high with no takers. Property auctions very high but consumers or bidders low.
How should we adjust ourselves in real estate business?
1. Split large office spaces into small units of minimum 100m2 2. Realtors eventually have to diversify their business so as to remain relevant in business. 3. Large labour intensive companies have to downsize
Which sectors are you in? (multiple choices)
2021 Interview of 429 Experts around the World on Covid-19
