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Real estate transactions down 15% but positive signs of recovery

The Federation of Notaries has released figures showing that between January 1st and now, there have been 15% fewer real estate transactions. The lockdown, which made it impossible to sign notarial deeds or to continue to visit real estate properties, is the main cause of this.

Since mid May, real estate agents have been reporting positive signs of recovery, however. Renaud Grégoire, spokesperson for Notaire.be comments: “It remains to be seen how the recovery will take shape in the longer term. There is a catch-up phenomenon. There is a high demand, but they are mainly people looking for a property and who had already planned to move. Where investors are concerned, while there is still demand, we observe that the market is a little more cautious. There is still a degree of uncertainty. It will take at least six months before a return to normal. And we will also have to see what impact bankruptcies will have on real estate transactions”. Read more L'Echo report [ Les transactions immobilières en recul de 15% depuis début 2020 ]
Tim Harrup
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