How Lockdown is Shaping Home Moving Behaviour
The experiences of lockdown have had significant effects on the importance of where we call home and what we want from our properties. There has been far greater demands on our home to provide a space from which we live out the many aspects of our life; from working to studying and exercising. Recently released research from Knight Frank Global have shown that the Coronavirus pandemic has caused quite a marked effect on property buyers’ attitudes.
Over 700 people across 44 countries were surveyed and research concluded that one in four stated they were more likely to move in the next 12 months as a direct result of the pandemic. When it comes to choosing a property, a home office is now high on the list of priorities, with a very notable 64% of respondents considering this as important. Around two thirds of those surveyed thought they will be more likely to work from home post- lockdown.
Space is of course also high on the list. Almost half of those surveyed reported that they are more likely to invest in a detached family home than they were prior to the pandemic and two thirds opted for a large garden and outdoor space as important. Notably 33% expressed an interest in having some kind of annex or extension for elderly or extended family members in close proximity.
The research conducted by Knight Frank Global also reflected an increase in interest in the purchasing of a second home. Interestingly, almost two thirds of those questioned also said that if they were looking for a second home abroad, their choice of destination country would be informed by the respective government’s handling of the crisis.
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