The impact of the Covid-19 Pandemic Crisis on real estate is unknown, but the impact is expected to be as brief or as long as the event that caused it. This means that after the peak phase of the Pandemic there will be a recovery that does not go beyond the time that it lasted. Pedro Seabra Partner of Explorer Investment states in the following way "the impact is expected to be temporary". We at Casaibéria understand it the same way.
The specialists, at European level, have been confirming this position, reiterated by Pedro Seabra in an interview to the magazine Vida Imobiliária, in several interviews and channels. For now, the impact is still not felt in the way it has been published in some newspapers, as there are businesses coming from the previous months that are still taking place. However, the limitation of mobility and physical proximity to customers will be felt in the results over the next few weeks. As well as in the progress of the works or in the time of approval of ongoing projects.
All these are factors that will be decisive in the coming months, we will have to take into account the need to unbureaucratize some of the processes, by the national authorities, because we know today that this year's summer will not be used for holidays, but for a quick recovery of business and the lost economy.
We, Casaibéria, consider that we are prepared for the reconquest of the interests and well-being of our customers. We will be part of this future front line of recovery of the national economy, through hard work, which will contribute to the well-being of our population, so that we can all achieve better results, on behalf of Portugal and the Portuguese.
We also want to be realistic, we know that the number of transactions will be much smaller in the next two months. There will even be a stop of transactions for some time, due to lack of visits, postponement of decisions, contracts, deeds, etc.
We believe that the impact will be temporary, as Pedro Seabra says, and that the world will continue to revolve. People still want to have their corner, their property where they can live and watch their children and grandchildren grow up.
Above all, there is still a lot of money looking to be put on the real estate market, because the property is something physical and, as a rule, it doesn't lose value. We are sure that the pressure of demand on supply is maintained and we also know that much can change in two or three months. Nobody has a crystal ball to know what will happen next.
We are confident that the willingness to invest and the pressure in the real estate market will be reborn when people return to mobility and confidence. In every crisis, real estate has been a safe haven, compared to other financial products, and this time it will be no different.
This is perhaps the greatest opportunity the bank has to clean its image of the scandals of the last decade, and thus prove to taxpayers, the reason and the reasons why it was worth rescuing it, as Filipe Alves says in his chronicle to the Economic Journal, in an opinion article very well prepared where he ends with a phrase that may well be one of the keys to this whole problem, "There must be courage and vision for this, by politicians, supervisors and bankers".
Paulo Lopes (Managing Partner Casaibéria)