The origination of COVID -19 in Wuhan has seen a drastic slump in the China Real Estate sector. Real estate investment in China slumped by 7.7 percent during the first three months of 2020. National Bureau of Statistics (NBS) had released a data that showed property sales by floor area also fell by 26.3 percent. It declined 39.9 percent in the first quarter of 2020. Commercial real estate investment also slumped in China and was down by 26.3 percent.
Kate Everett-Allen, head of international residential research at Knight Frank told the media, “The reopening of workplaces between mid-February and early March was reflected in a substantial recovery in activity across different sectors. The recent uptick in property transactions suggests this filtered through into buyer sentiment with a degree of pent-up demand being released.”