With Expats Leaving Due to COVID-19, How Is the GCC Real Estate Market Doing?

  • Date: 24-Jul-2020
  • Source: Al Bawaba
  • Sector:Real Estate
  • Country:GCC
  • Who else needs to know?

With Expats Leaving Due to COVID-19, How Is the GCC Real Estate Market Doing?

Published July 23rd, 2020 - 03:00 GMT































While investing in times of uncertainty might sound like a "smart" attempt to seize a golden opportunity, the bigger the amount of money you need to put into an investment, the harder and more critical the decision becomes.

Despite a slow yet continuous return of most businesses after several months of lockdown, we can hardly claim that economic activities are resuming "as usual" or even expected to recover soon in any part of the world, including the Gulf region.

However, different sectors are reacting differently to the unmatched reality created by the pandemic, with many pointing at possibilities and being hopeful of an approaching growth, when and if the right measures are considered by the stakeholders.

Consequently, it's only natural for the real estate sector to suffer acute outcomes following the surprising halt of all activities last March, as the world imposed strict measures to contain the Coronavirus outbreak.

The drastic drop in demand pressured by the fact that thousands of expatriates had to leave GCC countries after losing their jobs due to the pandemic, has left the rental market at a huge loss, one that majorly slashed