Covid-19 pandemic: the impact on residential real estate market

Massimo Mariani, Paola Amoruso, Radovan Vitek, Domenico Frascati and Francesco d'Ercole

ERES from European Real Estate Society (ERES)

Abstract: The Covid-19 pandemic is having wide-ranging economic effects on a global scale, significantly influencing economic capacities and household incomes, also affecting Real Estate sector in terms of investment decisions. In this sense it has led to changes in market demand, especially concerning residential properties, resulting from the different appreciation of intrinsic positional and technological factors, as location, presence of open spaces and number of rooms. In fact, the most significant effect is that the Covid-19 pandemic and the consequent restrictive measures have deeply changed the concept of 'inhabited space' in order to meet different needs of users. The present research aims to analyze market behaviors characterizing the Italian context with a view to investigating the variation of house prices starting from the identification of the new type of domestic space required by potential buyers. The main practical implication of this research is to address the investment choices in the development of adequate planning strategies in the residential sector, in order to adapt the urban planning and the residential design to a different market demand.

Keywords: Covid; â (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2022-01-01
New Economics Papers: this item is included in nep-ure
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