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2021 Interview of 429 Experts around the World on Covid-19
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Penloy BothdamrihCountry: USA
City: Washington DC
Position: Marketing Analyst & Licensed DC Realtor
Organization: TTR Sotheby's International Realty
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?
More people looking for single family homes, farm land, more self-sufficiency outside of the city. As remote work (WFH - Work From Home) changed the way many organizations operate, we have seen a major increase in residential home sales in 2021 and 2020 compared to 2019. This trend is projected to continue to increase. Less demand for apartment- and condo-living in major cities.
How should we adjust ourselves in real estate business?
By truly understanding what drives the demand in real estate and considering other economic factors such as crypto currency, stock investment, new technology; as well as other socioeconomic factors and political changes and change of power. Being informed by staying connected with other experts in different fields & industries and being agile are all important skills to maintain the adaptability in the market.
Which sectors are you in? (multiple choices)
2021 Interview of 429 Experts around the World on Covid-19
