Flávia Motta is a Brazilian citizen living in Portugal who helps people find a home in this country. With the onslaught of the Covid-19 pandemic she has begun to detect some changes in the real estate market, especially in terms of the nationality of her clients and the houses they are looking for. “Houses outside of the big cities, large houses, surrounded by green spaces, by the beach”, she says.
What changed in post-Covid-19 real estate
Flávia Motta’s daily routine hardly changed during the Government imposed lockdown which lasted from 18 March to 2 May. “It didn’t change my routines too much. My job involves a lot of deskwork, sitting at the computer”, she explains. She even got around to closing deals during this period. “I was able to close a deal with a client who had visited previously and decided to go ahead during the pandemic, which ended up being a great deal for him”, she recalls. Other USA-based clients who “needed to purchase real estate here urgently” led her to getting “everything dealt with online”.
She has noticed some caution among clients, such as Brazilians and Israelis, in investing in real estate in the post-Covid-19 market. “The Brazilian Real lost a lot of value on the euro during the pandemic, forcing them to rethink their investments”. The same happened with her Israeli clients.
As the lockdown measures eased, clients have been more willing to take up their investments once more, even if, in the case of the Brazilians, this is happening “very slowly”. In general there have been changes in the products they are looking for, with many now looking for real estate outside of the cities, with more space, in the country or by the beach.
The post-Covid-19 future of real estate
Among her clients there are still some expectations regarding the future of post-Covid-19 real estate, considering this health – and therefore also financial – crisis. Nonetheless, Flávia Motta believes the “the Brazilians who were previously interested in investing in Portugal will continue to be and will continue to go ahead with those plans”, because they are looking for “a safer and more stable place to live, where living is not so expensive”. Regarding other foreign clients, who already live in Europe, the real estate agent doesn’t see many changes in their investment plans.
Regardless, and come what may, Flávia assures us that “I am optimistic. In any case, we can always adapt, if need be, we’ll adapt.”