“Tourism sector will be hit hardest by a coronavirus, but not everyone will lose”, - said Marianna Preobrazhenskaya, General Director of Empire Property Cyprus Investment and Constriction Holding. He is confident that after the pandemic, the idea of vacation will be changed. And it will affect the demand in the real estate sector of Cyprus.
Sergey considers, that the COVID-19 pandemic will significantly affect not only in Cyprus but in other countries as well. According to the survey report of the Cyprus Chamber of Commerce and Industry, expect a decrease in tourist flow to the island by almost half. And most tourists will not stay in the hotels, because of the social distance. In this case, they will choose private housing.
The same situation with the cruise companies. And the reason is the same – social distance. After the stabilization of the epidemiological situation, people will continue to travel, but the will do it more carefully.
The important role in choosing a place for staying, in Cyprus as well, will be played the price for accommodation and meals. It also a benefit in favor of the private sector.
Many Cypriot hotels are considering options to remove all-inclusive system and lower prices for their services by up to 30%. But the main benefits from the current situation will get the companies and owners of the private properties. And not only in Cyprus.
Usually, one family rent apartments or villas, so the density of accommodation is very low. Also, they can take care about food by their own, or order delivery.
Many owners, who put their properties for sale, decided to rent their apartments and villas for a short-term period during this summer.
Nowadays, more and more people are think to buy their own apartments or villas abroad as an alternative to hotel rest.
Marianna Preobrazhenskaya considers, that after stabilization of the epidemiological situation by the end of 2020, there will be a significant increase in property sales in Cyprus.
Source: Prian.ru