is Covid-19 good for real estate?
for real estate sellers, it will not be good, in fact it will be a nightmare to real estate developers, real estate agents and other real estate professionals. However, for real estate buyers and investors, it will be a very good opportunity. For elaboration of this stand, kindly watch the video below prepared to you by a very reliable real estate broker based in Baguio city Mr. Roman joe Añoso
the summary of this video are the following.
1. there will be a possibility that the housing loan interest rate will become very low, a very good opportunity for the real estate buyers to mortgage their newly bought properties
2. there will be a possibility that the price of the real estate properties will decrease because of the over supply of real estate projects and ready for occupancy properties
3. there is a low demand of properties causing the property prices to go down and developers to offer good discounts and promos
4. construction finish will be delayed because of the lockdown
5. real estate agents shall utilize the use of internet to reach clients
According to the report, the Philippines has a total of 3,018 confirmed COVID-19 cases, with 52 recoveries and 136 deaths. Amid this skyrocketing increase of patients, Baguio City is now seeing the light with zero new cases in the Region in the past 5 days. However, the City Health Office (CHO) said that it should not lift the enhanced quarantine community protocols since it doesn’t mean that the fight against the disease is now over.
The people in Baguio still need to follow strict regulations despite the latest update in the city. They should not let their guard down amidst the crisis that is now happening in the entire nation, according to the City Health Officer Dr. Rowena Galpo.
Moreover, the public authorities urged the public to follow the laws and regulations, especially with the remaining 12 days of enhanced community quarantine (ECQ). It might end on the 14th of April, but the community should be ready with the possible extension due to the increase of COVID-19 cases in the Philippines.
The Mayor of Baguio said that he would not let his guard down. Hence, he would continue the contact tracing of the previous COVID-19 patients in the city to make sure that nothing was missed in their investigation. It helps to treat the patients and avoid the spread of the virus in the city, making it easier to fight against this unseen enemy.
He added that there were gaps in the previous days, so it would be surprising if new cases occur. Still, he claimed the authorities are doing their best to help the community with their best ability.
With the statement of City Epidemiologist Dr. Donnabel Panes, she was positive that the virus is contained, and the contacts of COVID-19 patients would be traced immediately.
As of now, Baguio is still with 13 cases, together with the doctor, Dr. Manuel Kelly, that was recently infected with the virus. He reached out to the public through social media, saying that he had the infection through serving in a health emergency.
Dr. Kelly urged those he had contact with to practice self-quarantine for 14 days. He also said that if one of them had some of the symptoms, they should get checked with the nearest hospital immediately, and tell about their condition honestly.
The current persons under investigation or PUI in the city are 110 persons, which shows symptoms of COVID-19. Additionally, the persons under monitoring or PUM are 834 persons. These were the ones who had traveled to the place with positive COVID-19 cases or had contact with those infected. The authorities are transparent with the latest update to give a clear indication to the public the importance of strict following of enhanced community quarantine.
The global report of this pandemic is 1,033,478 positive COVID-19 cases, 218,864 recoveries, and 54,369 deaths. The World Health Organization is giving reminders for COVID-19 preventions. Use water and soap for washing your hands regularly for 20 seconds, practice social distancing, cover the nose or mouth with a tissue, handkerchief, or flexed elbow, and most importantly, stay at home.