Weekly Digest #15
Have a nice day and welcome everyone to our anniversary selection of the most interesting news from the world of real estate! Today let's talk a lot about the coronavirus.
Governments are rushing to the rescue
Due to the Coronavirus pandemic in Western countries, strict quarantines are increasingly being imposed: children and students do not study, and adults work remotely from home or not at all. Of course, this situation hits both national economies and the wallets of ordinary people. The latter is forcing governments to take certain measures.
For example, French President Emmanuelle Macron said that the smallest companies "will pay neither taxes nor contributions". He proclaimed a "freeze on utility bills and rent" for small and medium-sized businesses.
Italian banks, in turn, give deferrals to debtors on mortgages. These measures can cost the state €15 billion.
Germany, in the form of loans at a very low interest rate, will allocate 40 billion euros to help freelancers and small businesses.
In the USA, the presidential administration has also prepared a decree on financial assistance to the population. According to the plan, each adult American will be paid $1000, and each child - $500.
he Airbnb service doesn't sit on the sidelines either. CEO Brian Chesky said the platform will not penalize customers for cancelling reservations.
Estonia continues to set records
All Estonian real estate indicators showed noticeable growth in the second half of 2019. The total value of transactions increased, as did buying activity and the average price per square meter. The total value of apartment purchase and sale transactions in the country in Q3 and Q4 2019 was €944 million. The number of transactions increased by 8% and the value per square meter by 5.7%. In Tallinn, a square meter added almost 9% on average and today it is valued at €1960.
Off-plan real estate transactions surged in Dubai
The Land Department reports a significant upsurge in purchasing activity in the city. In two months, the number of purchase and sale transactions has grown by more than 35%, while the number of transactions with objects under construction has jumped by 76%.
And Canada lacks immigrants
Minister of Immigration Marco Mendicino said that Canada plans to further increase the number of immigrants arriving by 10 thousand people annually. Authorities plan to increase the rural population and workforce. The last one is very important for the country, as it is facing demographic ageing. In 2019, 437,000 foreigners moved to Canada.
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