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2021 Interview of 429 Experts around the World on Covid-19
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Hugh GilliamCountry: United States
City: Atlanta
Position: Director of International Real Estate
Organization: RealtyHive LLC
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?
Residential inventory is very low in Metro Atlanta; therefore, prices continue to rise. Buyers are paying thousands of dollars above list price, and it's challenging to find a home without competing with multiple offers. This will continue until the inventory supply begins to increase.
How should we adjust ourselves in real estate business?
In the Atlanta market more buyers are removing contingencies from their offers; therefore, making it more attractive to the seller. As Brokers, we must educate our clients regarding how to navigate through this critical time of low inventory and hope that new inventory will begin to flow in during the year. Cash buyers continue to win in the residential market.
Which sectors are you in? (multiple choices)
2021 Interview of 429 Experts around the World on Covid-19
