25/05/2020
Real Estate industry is one of many industry that suffer from pandemic crisis brought by COVID-19 virus.
People who lean comfortably to this industry for years and those who are about to start their journey are having the same feeling--afraid.
With many private companies are pulling out and opted to explore the possibility of going "work-from-home" forever (as Twitter company says) or by the end of 2021 thus leaving the office space HUGE vacant sign.
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📷 by Carla Cervantes
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Excerpt from:
https://www.retalkasia.com/news/2020/05/08/how-philippine-real-estate-can-adapt-covid-19-climate-knight-frank/1588898644
"In light of the crisis, Knight Frank believes payment terms are expected to be more flexible to minimize defaults, with pricing strategies are also expected to be reconsidered to sell the remaining inventory."
"Knight Frank also believes there is opportunity for buyers with liquidity."
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With all these reports available online one thing is for sure, Corona virus disrupts the property boom.