Home owners had time to reflect on their lifestyles during lockdown, but they’ve done so at a time when the demands on, and expectations of a home, have grown significantly
The Covid-19 crisis has fundamentally changed the way we live our lives. For many people the home has become a hub from which we work, exercise, learn, socialise and relax.With demands on the home expanding and people having had time to reflect on the way they live and use their space, it is inevitable that as we ease out of lockdown these changes will have repercussions on property markets around the world.
In order to best advise our clients on lifestyle and investment purchases, we have sought the views of buyers around the world, to gauge how attitudes have changed as a result of the pandemic.
ome of our survey findings are to be expected – a desire for more outdoor space and a home office are perhaps not surprising, but only four months ago few could have foreseen that a foreign governments’ handling of the Covid-19 crisis, their speed of reaction and the support put in place, would become a critical consideration for second home buyers around the world.
About the survey
The Knight Frank Global Buyer Survey was undertaken between 5 June and 23 June 2020 with the aim of understanding what impact the Covid-19 pandemic has had on residential markets and in particular, on buyer attitudes. The findings represent the views of over 700 Knight Frank clients across 44 countries, all of whom have registered an interest in buying property with Knight Frank.
How has Covid-19 influenced buyers’ plans?
One in four survey respondents, said they were more likely to move home in the next 12 months as a result of the pandemic.