10 industries getting hit hardest by COVID-19

By Zhang Rui: 0 Comment(s)Print E-mail China.org.cn, March 27, 2020

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7. Real estate

A real estate project under construction in Wuxi, Jiangsu province, March 19, 2020. [Photo/VCG]

For quite some time, construction has been halted, while real estate sales have been suspended. To try and drive sales while buyers are not able to travel to view properties, online sales have become the main approach. However, the results remain to be seen.

Meanwhile, as the economy is hit, declining incomes will make people less likely to invest in property. It is expected that after the epidemic, if policies are not loosened, small and medium-sized real estate companies will be hugely affected, and large real estate companies may sell houses at low prices for quick money in some regions.