A New Wave of Real Estate Demand: The “Post-Quarantine Buyers”

Real Estate Before and After Quarantine

The term “post-quarantine real estate market” appears frequently in the media. What does it mean to you personally, and is it really a distinct phenomenon? Does the quarantine deserve such weight in this industry?

I think this term is used more for catchy headlines than to describe any real structural change — especially in real estate. Our construction sites, for example, didn’t stop for a single day during the quarantine. Of course, all safety measures were observed — transportation for workers, mask protocols, etc.

Yes, in the very beginning, during the full lockdown, when people were confined at home, sales temporarily dropped. But that was mostly due to short-term panic fueled by the media. By March, we were already seeing stable growth, and by September, the market had returned to a full-fledged pre-quarantine business season.

The quarantine was important, but life goes on — and we now see that people who had planned to buy real estate in 2020 are returning to those plans.

Marketing Under Pressure

What was your first thought as a marketer when quarantine was announced? Was there fear or concern about the company’s invested resources?

The quarantine didn’t come as a surprise to us — Ukraine wasn’t the first country to experience it. We were ready for such a scenario. My first thought was: “Well, it’s our turn — let’s get to work.”

Most of our business processes were already digitized, so when restrictions began, we simply switched to manual control — cutting some budgets and increasing others to maintain performance while closely monitoring market shifts.

Forecasts and Construction Continuity

Did you have your own forecasts about how the market would behave during and after quarantine? What came true and what didn’t? Did construction continue across all projects?

We live in a country where “impossible” doesn’t really exist — if you really want something, you can make it happen. That’s exactly how it was with quarantine: people paused, looked around, assessed the situation, put on masks, and got back to business.

So we were fully confident that the real estate market would, sooner or later, return to pre-quarantine levels.

As I mentioned, our construction sites never stopped. All projects continued actively, and in fact, we plan to launch a new residential complex — Nordica Residence — on the Kyiv market soon.

Post-Quarantine Strategy and Anti-Crisis Solutions

What strategic adjustments did RIEL make after quarantine? Which measures could be considered anti-crisis? Does this include the Remont Buro project? Tell us about it.

Overall, we didn’t change our long-term strategy — we continued to operate within our monthly plans. The main shift was redistributing budgets toward digital marketing and abandoning tools that proved inefficient, particularly during lockdown.

Planning in Uncertain Times

Does market instability prevent you from making long-term plans? Or has it created a need for short-term strategy instead?

We traditionally review plans and budgets every month based on performance indicators from previous periods. During these reviews, we identify which channels show the best growth and focus on them, while keeping an eye on new marketing tools.

So we haven’t made any radical restructures or anti-crisis shifts — we’re moving forward steadily, according to plan.

Demand and Buyer Behavior

How has consumer demand for residential property changed? Are people buying less, or are they more eager to invest in housing?

Despite the global trend away from homeownership, in Ukraine people still strongly aspire to own their own homes. In fact, quarantine created a new wave of demand — the “post-quarantine buyers.”

During lockdown, people spent a lot of time at home — cleaning, organizing, and realizing that it might be time for an upgrade.

A good example is remote work. After a few months of working from home, many people decided they no longer wanted to waste two hours a day commuting to the office and back.

Another example — renters who lost income during quarantine and could no longer pay rent. They will now be more determined to buy their own property, so they never face that problem again.

So yes, demand is growing — and it will continue to grow.

Regional Trends

Are there significant differences between regions — in your case, between Lviv and Kyiv?

Not dramatically. However, during the peak months, Lviv was more stable and less affected by panic compared to Kyiv.

Buyer Profile After the First Wave

How has the typical buyer profile changed after the first wave of the pandemic?

Not much, really. The only major shift is that buyers have become more demanding regarding internal and external infrastructure. Quarantine left its mark — people now want to have all their basic needs met right within their residential complex.

Commercial Real Estate: Challenges and Shifts

Your portfolio also includes commercial properties. This segment appears to have suffered more than residential real estate. How has demand and the client profile changed?

Yes, the commercial market took a bigger hit — but it’s more of a “storm in a teacup.” Demand simply shifted from office spaces to local stores, cafes, and takeout restaurants. Now everyone is quickly adapting, and new businesses are moving into those same spaces — businesses that will be relevant both during and after quarantine.

Market Supply and Investment Logic

How has the market supply adjusted to new consumer demands?

As every investment textbook says — buy at the bottom, sell on the rise. Many perceived quarantine as that bottom. In fact, demand for commercial spaces remained stable and even grew slightly.

Our goal is to offer a diverse portfolio of properties — both for large companies ready to expand and for small businesses that will drive the post-quarantine economy in the coming years.

The Need for New Commercial Spaces

Does the market need new commercial developments, and what kind?

Last year was record-breaking in terms of new commercial square meters introduced. So for now, the market is in a slight holding pattern. Demand for large retail centers will remain minimal, but smaller infrastructure properties, such as commercial spaces on the ground floors of residential buildings, will maintain steady demand.

Online Marketing Trends and Anti-Trends

Which online marketing tools have become especially relevant for selling real estate after quarantine? Which channels generate the best leads?

Buying real estate is a multichannel and complex process involving research, comparison, and personal priorities. It’s hard to name just one dominant channel. However, we’re currently seeing social media outperform Google and aggregator sites by a few percentage points.

What’s Outdated in Real Estate Marketing?

The key idea today is that marketing should not be intrusive. Consumers no longer react to “buy now” calls to action — they perceive such ads merely as brand mentions among many others.

A potential client should encounter the brand in an emotionally relevant context — in a blog they follow, an article they choose to read, or within online communities they belong to.

Residential vs. Commercial Marketing

Do the same marketing principles apply to commercial real estate?

Commercial real estate has different goals. While residential buyers prioritize peace, comfort, and proximity to infrastructure, commercial tenants want foot traffic, visibility, and minimal competition nearby.

But the underlying promotional tools remain largely the same — the difference lies in the messaging and context.

Budget Optimization During Quarantine

Did you reduce or optimize online marketing budgets during quarantine? What share of your budget is now allocated to digital advertising?

During lockdown, people were spending nearly all their time online, so offline advertising made little sense. We focused entirely on digital promotion and strengthened our positions across all channels.

Currently, 70–75% of our total marketing budget is dedicated to online promotion.

Vadym Tarasenko – Head of Digital Marketing, RIEL Real Estate Corporation Interview for WebPromo Internet Marketing Agency