According to Adam Białas, manager at Core PR, in the current market situation, only the companies with the well prepared digital procedures and online offers will prosper. Many firms are just now beginning to modify it, preparing a complete internet transaction model, including elements showing real estate.
“We are also observing increased expenditure on e-marketing activities. On the primary market (new housing) we would not expect a drop in prices, just as in several Asian markets. In Poland, the consumer crisis will translate more significantly as a reduction in the number of potential buyers. The previously high demand which in practice has often provided several competing buyers for the same property will now be significantly reduced and developers may now have to enter uncharted territory and begin fighting for their buyers. But what must be noted is that historically in uncertain times, the real estate market and particularly land sales have proven to be safe havens,” Białas emphasized.
He added that in the coming months we will observe limited demand and further polarization of changed in consumer behavior. Customers who urgently need to composite housing transactions will be more likely to view cheaper options or different locations because their uncertain economic situation may lead them to refrain from any major purchase commitments and spend their income on necessities instead.