Igor Mazepa: suburban real estate is still in demand despite the crisis triggered by COVID-19

Igor Mazepa, investment banker, CEO and owner of Concorde Capital investment company, talks about the impact of the coronavirus crisis on the real estate sector

Igor Mazepa, an investment banker, CEO and founder of Concorde Capital investment company, comments on the impact of the coronavirus crisis on the real estate sector and reasons of a rising demand for suburban real estate, talking about GoodLife Park elite residence in Kyiv’s suburban.

“The coronavirus crisis is affecting all the sectors of economy. At the same time, there are industries that have a chance to withstand the crisis and even strengthen their positions. In my opinion, these are segments that relate to the Internet, segments that build technological processes remotely”, says Igor Mazepa.

‘”Real estate is affected the most. There is a falling demand for apartments, for rent of office and retail spaces. After the lockdown is lifted, 60-70% of employees will return to their offices. The management of many companies has seen that working remotely mode is still effective and productive. Therefore, the office rent expenses could be cut”, comments Igor Mazepa.

“Shopping malls and entertainment centres have also suffered from the downturn triggered by COVID-19. Despite that they have reopened in June, I still doubt whether their visitors will come back. During the lockdown, people have developed a habit of being careful about what is happening around them, it has become the norm to keep distance. Moreover, many people have started to buy everything online, from groceries to household appliances. Is it the end of physical retail? We’ll see…”, says Igor Mazepa.

“At the same time, the demand for suburban real estate persists or even grows. I can state it for sure, looking at the demand for residences in GoodLife Park. (This is an elite residence in Vyshgorod Raion, Kyiv Oblast, an investment project of Igor Mazepa. For more, please go to https://goodlifepark.ua/). Rental rates are growing in this segment, and so are the prices for suburban real estate. I would say that such trend will continue in future. Deurbanisation encourages people to buy private houses with a well-developed community infrastructure”, commented Igor Mazepa.

Другие видео комментарии Игоря Мазепы смотрите на его YouTube канале https://www.youtube.com/channel/UCqkIbWCqsBvJ5AHQ4Mo3Fsg

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