Winners from the coronavirus in the country with the collapse of demand for housing



In may 2020, the sale of real estate in New Zealand has fallen by 47 per cent compared with the figure for the same period last year. The country is faced with falling demand for square meters of quarantine coronavirus. About it reports TV channel 1 NEWS.

Just over a month in New Zealand, which was previously named the winners from pandemic coronavirus, sold less than four thousand objects of real estate — against 7.5 thousand in may of 2019. Most highly (63 per cent) of the number of deals decreased in the regions of Tasman, Otago (minus 56 per cent), Southland (minus 55%) and Marlborough (minus 54%).

The real estate Institute of New Zealand (Real Estate Institute of New Zealand REINZ) indicate that sales was prevented by the restrictions imposed on non-proliferation of coronavirus. “Sales continue to suffer due to the shortage of new supply. I hope this will change with growth of level of confidence of citizens”, — said the head REINZ Bindi of Norwell.

Despite the drop in sales, the average cost of housing in New Zealand by the end of may rose 7 percent year on year, to 620 thousand new Zealand dollars (27.9 million rubles).

In late April, New Zealand was among the countries that, according to experts, would benefit from a pandemic coronavirus. The spread of infection stopped there quickly, and it helped re-launch the national economy. As a result, investors began to actively invest in stocks and bonds of local issuers issued in new Zealand dollars. As a result, the national currency has increased.

Video, photo All from Russia.


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