Is it Worth Selling Real Estate Now?

If you don't have a loan obligation or other immediate need to move and sell, it's better to remain in a wait-and-see position and keep your current home or real estate purchased as an investment. However, if there is a desire to sell quickly, you must account for room to negotiate.

Which segment is hit hardest by the crisis?

Looking back at the experience of the previous economic crisis, the most severe blow hits more expensive real estate segments. Additionally, property that was purchased for short-term rental purposes or financed with expensive borrowed money.

Apartment buildings and lower-priced segment real estate prices correct less and maintain better liquidity. Similarly, property that is more unique and distinctive retains more of its value, but by its price class doesn't reach the level of more expensive real estate.

What would be the best solution?

Considering the market situation, the most sensible approach is for those who have the opportunity to hold their property, postpone their sales plan, and wait for prices to recover.

Since it is unknown how long the crisis will last and what the recovery period will be, those who need to sell faster should be prepared that for a successful transaction, they must allow for negotiating room of approximately 10% below the original asking price.

Article source: Uus Maa Real Estate Office