Supporting the property industry during COVID-19
Sharing insights with Urban
Like many, the property industry has faced significant challenges throughout the widespread COVID-19 pandemic. From virtual display suite tours to one-on-one appointments with purchasers to maintain social distancing, there is no doubt the industry has seen a slow down in purchaser engagement.
Responsible for a staggering 8.7 per cent of Victoria’s state employment, the far-reaching positive contributions of the property and construction industries are undeniable, and thus imperative that the State and Federal Governments continue introducing ways to stimulate the economy through the support of this industry.
Sharing his insights and understanding, Beulah Managing Director Jiaheng Chan spoke with Urban.com.au, suggesting a diverse range of legislative incentives – such as removing stamp duty costs or introducing rebates akin to the First Home Owner Grant for local purchasers – the Federal Government can introduce to support the property industry during this time.
While of course, our recovering economy is reliant on countless factors beyond property and construction, there is no doubt that by ensuring the industry continues to operate in a favourable environment for both local and international investments, our economy is bound to weather the storm better than many would expect.
Read the full article as featured on Urban.