Due to quarantine, buyers saw that complications can be caused not only by construction with imperfect documentation, but also by those that will depend on the financial investments of buyers.
Quarantine has stopped the flow of money for many buildings, which has automatically led to the freezing of facilities, even if such intentions did not exist at first. Accordingly, the buyer has become much more demanding of the developer, as before, “perhaps” no one expects. Even officials are not making any improvements to developers because they fear they will be accused of corruption.
Also, people stopped buying apartments at the initial stage of construction. According to experts, the greatest demand is currently for projects that are 70-80% complete, ie this is the final stage.
Demand for apartments with ready repairs has also increased. First, it is much cheaper than doing the repairs yourself. Secondly, in the conditions of quarantine to make repairs in the apartment became more difficult. It is noted that this practice is widespread in Europe.
Buyers also became interested in how much it will cost them to further operate the apartment (utility bills and others). As a result, large apartments have become less attractive in the market.
It is noted that the real estate market has adapted well to the conditions of quarantine and has not suffered as much as other industries. Because construction did not stop during the quarantine period, and sales were conducted online.