{"id":19439,"date":"2020-06-04T12:15:11","date_gmt":"2020-06-04T10:15:11","guid":{"rendered":"https:\/\/www.weetas.com\/article\/?p=19439"},"modified":"2021-11-08T14:27:45","modified_gmt":"2021-11-08T12:27:45","slug":"housing-in-lockdown-buying-a-house-during-a-crisis","status":"publish","type":"post","link":"https:\/\/www.weetas.com\/article\/housing-in-lockdown-buying-a-house-during-a-crisis\/","title":{"rendered":"Housing in Lockdown: Buying a house during a crisis\u00a0"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">We are now talking more about Coronavirus than we say hello to each other in the morning! This crisis has taken over our minds and has become today&#8217;s talk. It also affected our psychology, our work, and our daily life, but did it affect the real estate market and the economy? If you plan to buy or sell a home and ask, is it possible buying a house during a crisis? You are not alone in having questions, that&#8217;s what we will find out within minutes of reading this article.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>Here we will cover:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Coronavirus and Real estate market.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Real estate in GCC<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Real estate in Bahrain<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Buying a house during a crisis in Bahrain<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Coronavirus and Bahrain\u2019s response<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><b>Let\u2019s start.<\/b><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">Coronavirus and Real estate market<\/span><\/h2>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-19703 size-full\" src=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/1.Coronavirus-and-Real-estate-market.jpg\" alt=\"Coronavirus and Real estate market\" width=\"660\" height=\"276\" srcset=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/1.Coronavirus-and-Real-estate-market.jpg 660w, https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/1.Coronavirus-and-Real-estate-market-300x125.jpg 300w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Since the spread of this virus, there is a panic that dominates the behavior of the consumer, he has become storing food commodities exaggeratedly. This indicates the negative perception of the expectations for this virus&#8217;s impact on the economy, and therefore we will find quick decisions also in terms of investments and the real estate market. There is no doubt that business interruptions and closings of whole industries lead to reducing the salary for many workers and laying off others, decreasing their ability to buy homes.\u00a0<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This season -Spring season- is the busiest season for the real estate field, especially for buying a house, and the housing stock for sale is more attractive to many than what is for rent.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A survey by the \u2018Middle East, revealed almost a quarter (24%) of respondents said that their business is already making redundancies, and 20% said they have been forced to take unpaid leave as a result of the business disruption caused by the coronavirus.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3><span style=\"font-weight: 400;\">Is the real estate sector affected by the current crisis?<\/span><\/h3>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-19705 size-full\" src=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/2.Is-the-real-estate-sector-affected-by-the-current-crisis-.jpg\" alt=\"Is the real estate sector affected by the current crisis?\" width=\"660\" height=\"276\" srcset=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/2.Is-the-real-estate-sector-affected-by-the-current-crisis-.jpg 660w, https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/2.Is-the-real-estate-sector-affected-by-the-current-crisis--300x125.jpg 300w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Many sectors have been directly affected by the crisis of the Coronavirus, but the real estate sector in various countries of the world remains in a state of anticipation, as it is a sector that has enough capacity to withstand longer periods of time than others in such crises.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Economists also believe that even if this sector suffers from some recession or negative impact, it will be temporary and soon recover once the quarantine is lifted, while other sectors may require longer periods of recovery.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">Real estate in GCC<\/span><\/h2>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-19706 size-full\" src=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/3.Real-estate-in-GCC.jpg\" alt=\"Real estate in GCC - Buying a house during a crisis\u00a0\" width=\"660\" height=\"276\" srcset=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/3.Real-estate-in-GCC.jpg 660w, https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/3.Real-estate-in-GCC-300x125.jpg 300w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">There is no doubt that the real estate market has been growing in the GCC area. Many years ago, real estate was considered a measure of the economic wealth of the GCC, as the increasing number of expatriates and the rapid rise in per capita income increased the demand for commercial and residential real estate in the region. However, the 2008 financial crisis presented many challenges for the sector with real estate prices and rents falling by up to 40 percent across the region.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>According to Select Property Group&#8217;s GCC Investor Survey<\/b><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-19750 size-full\" src=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/06\/graph.jpg\" alt=\"According to Select Property Group's GCC Investor Survey\" width=\"660\" height=\"276\" srcset=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/06\/graph.jpg 660w, https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/06\/graph-300x125.jpg 300w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">In The GCC<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">75% of investors have invested in local property.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">71% of GCC investors look to make a new investment every 6 months or less.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">Real estate in Bahrain<\/span><\/h2>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-19707 size-full\" src=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/4.Real-estate-in-Bahrain.jpg\" alt=\"Real estate in Bahrain\" width=\"660\" height=\"276\" srcset=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/4.Real-estate-in-Bahrain.jpg 660w, https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/4.Real-estate-in-Bahrain-300x125.jpg 300w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Bahrain is not just a great place to work in, it is also the best place to live.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It offers a quality of life and a family-friendly environment with reasonable living costs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The kingdom makes it easy to stay, people can purchase freehold residential land in prime locations, so you can obtain permanent residence.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The decline in real estate prices in Bahrain began in 2017 and in 2019 prices stabilized due to increased buying demand after the change in prices, and this price stability continues in 2020.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"font-weight: 400;\">Investment in Bahrain<\/span><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Investment potential in Bahrain\u2019s real estate market continues to expand, and the sector becomes more important to the economy.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">Buying a house during a crisis in Bahrain<\/span><\/h2>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-19708 size-full\" src=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/5.Buying-a-house-during-a-crisis-in-Bahrain.jpg\" alt=\"Buying a house during a crisis in Bahrain - Buying a house during a crisis\u00a0\" width=\"660\" height=\"276\" srcset=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/5.Buying-a-house-during-a-crisis-in-Bahrain.jpg 660w, https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/5.Buying-a-house-during-a-crisis-in-Bahrain-300x125.jpg 300w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">The government in the Kingdom of Bahrain communicates with foreign ministries affairs in various countries to facilitate the return of Bahraini citizens still abroad.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The return of a large number of countries&#8217; citizens to their homes has an impact on reviving the real estate market, especially after what the world and most countries are experiencing in crisis, which will lead to a demand for <a href=\"https:\/\/www.weetas.com\/bh-en\/properties-for-sale.html\">buying a house<\/a> to live in.<\/span><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-19741 size-full\" src=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/06\/post.jpg\" alt=\"\" width=\"660\" height=\"276\" srcset=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/06\/post.jpg 660w, https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/06\/post-300x125.jpg 300w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">So, the real estate sector has not yet faced any problem, as the local financial system has so far shown resilience to the crisis.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"font-weight: 400;\">What should you do if buying a house nowadays?<\/span><\/h3>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-19709 size-full\" src=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/6.What-should-you-do-if-buying-a-house-nowadays-.jpg\" alt=\"What should you do if buying a house nowadays?\" width=\"660\" height=\"276\" srcset=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/6.What-should-you-do-if-buying-a-house-nowadays-.jpg 660w, https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/6.What-should-you-do-if-buying-a-house-nowadays--300x125.jpg 300w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">In general, governments in different countries advise that buyers and tenants delay moving house. But if you have to, you should follow a few guidelines to stay safe:<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">\u00a0Ask for videos of the home you\u2019re planning to buy. Real estate agencies provide many options like virtual tours to shortlist houses.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Make sure your job and income are stable.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">If you&#8217;re otherwise healthy, schedule a private inspection and make sure to follow the government\u2019s rules on social distancing. You should sterilize hands, put on gloves, and wear a mask. Also, try to refrain from touching anything when touring a home.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/jrxQCc6aKig\" width=\"100%\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">Coronavirus and Bahrain\u2019s response<\/span><\/h2>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-19710 size-full\" src=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/7.Coronavirus-and-Bahrain\u2019s-response.jpg\" alt=\"Coronavirus and Bahrain\u2019s response - Buying a house during a crisis\u00a0\" width=\"660\" height=\"276\" srcset=\"https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/7.Coronavirus-and-Bahrain\u2019s-response.jpg 660w, https:\/\/www.weetas.com\/article\/wp-content\/uploads\/2020\/04\/7.Coronavirus-and-Bahrain\u2019s-response-300x125.jpg 300w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">In common with most countries, Bahrain is affected by COVID-19 but has taken swift and decisive action to try to minimize the impact on people and the business community.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Bahrain was the first Arab country to join a solidarity experiment to find an effective treatment for the virus, and the WHO is appreciated for its rapid response.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Bahrain also:<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Set up a national task force dedicated to tackling the spread of the virus.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Providing free treatment to citizens and residents.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Providing mobile medical units to check up on people in their homes.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Suspending public and private education and higher education institutions until further notice.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Allowing all working mothers to work from home.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Pay the salaries of all insured Bahraini private-sector employees for a period of three months, starting in April 2020.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Exempting all tourism-related industries from tourism fees for three months from April 2020.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">In the end, we want to say:<\/span><\/h2>\n<p>&nbsp;<\/p>\n<p><b>We cannot deny that the real estate sector is facing a hard year and a significant challenge, but this challenge will highlight the sector&#8217;s ability to withstand, according to each country, according to the status of the sector, and how long it will take for the pandemic to recede.<\/b><\/p>\n<p>&nbsp;<\/p>\n<p><b>But what experts say is that after the crisis there will be an increasing demand for real estate. So if social distancing has made you realize you don&#8217;t love the place where you&#8217;re currently spending most of your time, it&#8217;s a good time to think about buying.<\/b><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; We are now talking more about Coronavirus than we say hello to each other in the morning! This crisis has taken over our minds and has become today&#8217;s talk. It also affected our psychology, our work, and our daily life, but did it affect the real estate market and the economy? If you plan [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":19702,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[881],"tags":[384,926,498],"_links":{"self":[{"href":"https:\/\/www.weetas.com\/article\/wp-json\/wp\/v2\/posts\/19439"}],"collection":[{"href":"https:\/\/www.weetas.com\/article\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.weetas.com\/article\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.weetas.com\/article\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.weetas.com\/article\/wp-json\/wp\/v2\/comments?post=19439"}],"version-history":[{"count":14,"href":"https:\/\/www.weetas.com\/article\/wp-json\/wp\/v2\/posts\/19439\/revisions"}],"predecessor-version":[{"id":20961,"href":"https:\/\/www.weetas.com\/article\/wp-json\/wp\/v2\/posts\/19439\/revisions\/20961"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.weetas.com\/article\/wp-json\/wp\/v2\/media\/19702"}],"wp:attachment":[{"href":"https:\/\/www.weetas.com\/article\/wp-json\/wp\/v2\/media?parent=19439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.weetas.com\/article\/wp-json\/wp\/v2\/categories?post=19439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.weetas.com\/article\/wp-json\/wp\/v2\/tags?post=19439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}