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2021 Interview of 429 Experts around the World on Covid-19
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Wayne ThorburnCountry: USA
City: Austin
Position: Chairman, Board of Trustees
Organization: ARELLO Foundation
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?
depending on location, the housing shortage (#days available on market) will continue for the next 12-15 months with demand outpacing supply for residential real estate. Residential demand greater in outer suburbs than in-town, downtown condominiums. Office and retail will continue to suffer as more continue to work from home.
How should we adjust ourselves in real estate business?
Commercial real estate may need to shift focus, especially from retail (both downtown and mall) and perhaps more to warehouse, shipping and manufacture as online sales continue to be a major source of retail.
Which sectors are you in? (multiple choices)
2021 Interview of 429 Experts around the World on Covid-19
