Abstract
Aim: The primary aim of this research is to analyse the impact of COVID-19 on the real estate market by carrying out a comparison of developed and developing countries.
Method: This research study has embraced a secondary quantitative methodology in which the data related to the real estate market and COVID-19 opted for the period of 2019-2022 from the data available related to real estate market value. The developing countries that have been opted for were Hungry, Poland, Chile whereas the developed countries included are Germany, Australia and Switzerland. The data was statistically examined through correlation and regression tests. The collected data was analysed using STATA as correlation and regression analysis were used.
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In March 2020, a global pandemic was caused by the inability to control an unusual respiratory illness known as COVID-19 (Allain-Dupré et al., 2020). As a result of the pandemic, governments from all over the world responded by imposing lockdowns and stay-at-home directives as the last choice to prevent the failure of healthcare structures (White, 2020). In the months that followed, empty workplaces, home offices, shopping centres, sidewalks, cafes, bars, and parties were used as allegories for social exclusion and the limitation of interpersonal interactions. Shutdowns always coincide with a global economic crisis regardless of a wide range of economic assistance processes that were successful in restricting the disease’s spread. Similar to many other sectors of the economy, the real estate industry, comprising residential and commercial real estate, along with the mortgage market, is facing unparalleled difficulties (Uchehara, 2020).
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