Among the present trends, the dream of owning one’s home, the reduction of bureaucracy, and the search for bigger properties are the most outstanding.
2020 will be unforgettable in the history of mankind. Among the many impacts caused by the new coronavirus pandemic, be it in the Health area or in the most diverse sectors of society, something is undeniable: we are no longer the same when compared to last year. In the year when the home office became a reality for many workers – 46% of the companies during the pandemic, according to the Fundação Instituto de Administração (FIA) (Foundation Institute of Administration) – and e-commerce became the option for buying of over 8.9 million consumers – according to a study by fintech PayU – both due to social distancing, the relationship of Brazilians with their dwelling place has also changed.
This is because people had never before remained inside their houses for such a long time, in a quarantine that made the idea of comfort and well-being at home even more valued. Following the new demand, the real estate Market has also been undergoing transformation. According to research by the QuintAndar site, inhabitants of Rio de Janeiro, São Paulo and Brasilia, for instance, have been trying to rent bigger properties, disregarding apartments and prioritizing houses. Remaining at home for a longer time makes places with bigger windows, yards, and space for plants a trend among researches.
Another form of renting that has become common during the quarantine is the choice of a temporary dwelling, usually outside big cities, near nature and far from crowds. According to a study by the Booking.com site, the search for “non-traditional” accommodations has grown 40% among Brazilians. Another research by the Airbnb site points out that in the first semester of the year there was an increase of 150% in the search for temporary places as far as 300km from urban centers.
Buying real estate has again become the consumer’s dream for Brazilians
Another item that may become a trend – or, rather, become the top wish of consumers - is buying the highly desired own home. Although this idea has always been prevalent among Brazilians, the possibility of buying real estate has become more accessible during the quarantine, since currently lower interest rates make real estate financing 30% cheaper than in previous years. Nowadays, the real estate Market has players offering rates below 7%, whereas in 2017, for instance, they charged an average of 11% interest.
According to the Associação Brasileira das Entidades de Crédito Imobiliário e Poupança (Abecip) (Brazilian Association of Real Estate Loans and Savings Companies), with regard to the purchase of real estate, the first semester of 2020 registered an increase of 24% over the same period of the year before, an increase headed by individual buyers. The new reality denies the concept of dwelling of the “millennials”, the generation born at the end of the 80’s and beginning of the 90’s, known in the real estate Market for not wanting to buy a home, preferring a rental and the possibility of moving at any moment. Now, the scenario is different: owning one’s home is no longer a luxury, but a need in difficult times such as these.
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