Effect of covid on real estate prices

[jcc]

I'm fortunate enough to be in a job that is untouched by the virus. In fact with everyone stuck at home, I wouldn't be surprised if my workplace posts record income.

I have solid savings and investments, and am now wondering if it's time to start looking to buy.

It's hard to tell if real estate has already been impacted. Anyone noticing changes in postings around themselves? The olympics are also delayed so that may or may not have some effect. Some speculators were talking about work prices going down after the olympics as demand for workers drops.

What do you guys think of the situation now and the near future?

[KyushuWoozy]

The olympics are also delayed so that may or may not have some effect.

My buddy who is in real estate down here in Kyushu told me there is a buying frenzy now because prices dropped after the Olympics got cancelled.

[mighty58]

I like to keep an eye on listings, and I haven't seen any drop in the listing prices around here (Yokohama). That being said, that's listed price, so you'll likely have to try and get a feel, in person, for how much negotiating room you might have by sussing out exactly how much interest there has been, and how quickly they want to sell. (I guess that's the same thing one would do even without the Covid situation though).

[Roger101]

I would imagine (in general) house prices must go down (??) as so many people will have less money/income in the months to come
and the economy in general will take a hit

.........hhhhmmm??

[RetireJapan]

Commercial landlords are going to get slaughtered over the next months/years. We just asked ours to reduce our rent by 50% for the next three months (on five units). If they refuse and the government doesn't start providing support to pay rent and salaries we may close down and move out of 3-4 of those units.

And there are millions of small-medium companies in the same boat.

[Wales4rugbyWC23]

Commercial landlords are going to get slaughtered over the next months/years. We just asked ours to reduce our rent by 50% for the next three months (on five units). If they refuse and the government doesn't start providing support to pay rent and salaries we may close down and move out of 3-4 of those units.

And there are millions of small-medium companies in the same boat.

Good on you, most of our landlords offered about 25% but one is holding out saying we should wait till what government aid is available to businesses.