Digitalising Real Estate Lockdown Real Estate Guide | Page 4

COVID-19
The demise of our
freedom
What Coronavirus has taken away from us
SIDIMA MFEKU
I
t was towards the beginning of the festive season in 2019
that the world glimpsed into, the frightening deadly virus
COVID-19. According to various media posts in China,
referring to the Chinese government’s reports, the first case
of Coronavirus, was reported on the 17 November 2019 in
Wuhan, followed by more than 200 cases a few weeks later.
It has since spread across the world in a matter of three
months. With a total of more than 75 thousand mortalities
there are more than a million Coronavirus cases recorded
across the globe and the numbers keep rising.
What is Coronavirus
Coronavirus disease (COVID-19) is an infectious disease
caused by a newly discovered coronavirus which forms part
of many other viruses that are largely found in animals and
sometimes in humans.
According to head of respiratory diseases and meningitis
at the National Institute for Communicable Diseases,
Professor Cheryl Cohen these viruses have been known
since the 1960s and in humans there are four different
coronaviruses that cause some diseases like colds and flu.
Additionally, there are many other coronaviruses than can
be found in many other animals. And these viruses can
change and be infectious and cause illnesses in humans.
When this happens, humans are normally diagnosed with
pneumonia.
According to the World Health Organisation, people
infected with the virus will experience some respiratory
illnesses and recover without requiring special treatment.
But older people, some with complicated medical problems
like cardiovascular disease, and other chronic diseases are
more likely to fall sick from the COVID-19.
Prevention
Currently, there are no specific vaccines or treatments for
COVID-19. So in order for people to prevent contraction
and spreading of the virus, it is important one gets as well
informed about the COVID-19 as possible. Information like
‘how the disease spreads and how to prevent it’ is crucial
for everyone.
Protect yourself and others from infection by washing
your hands with soap for at least more than 20 seconds
or using an alcohol-based rub frequently and refrain from
touching your face including mouth eyes and nose.
The COVID-19 virus spreads primarily through droplets of
saliva or discharge from the nose when an infected person
coughs or sneezes, so it’s important that you also practice
respiratory etiquette (for example, by coughing into a flexed
elbow) and cough onto a tissue and throw it in the bin after
use.
There might not be any cures or vaccines at this time,
however the WHO has confirmed that there are many
ongoing clinical trials evaluating potential treatments. And
that it will continue to provide information necessary for the
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COVID-19 - 2020
public to know about the virus and updated information as
soon as clinical findings become available.
Effect on economy and real estate
Since the pronouncement of the first COVID-19 cases in
various countries, many business owners, financial analysts
and markets across the globe have been vocal about
the implications of the virus in business and economic
development. This has been as a result of the possible
solutions to control the spreading of the virus that would
be implemented. Some of which have now placed many
countries on a standstill.
Economy
According to the world economic forum, Globally, the
coronavirus shock is severe even compared to the Great
Financial Crisis in 2007–08. Additionally, Investors fear the
spread of the coronavirus will destroy economic growth
and that government action may not be enough to stop
the decline. According to United Nations the pandemic is
recorded the worst crisis humans have ever experience
since World War II. However, South Africa has tipped even
more than it has been before the COVID-19 pandemic
bloomed. The status of the economies of the country has
been rated junk a couple of time, and the pandemic has just
fuelled things.
Real Estate Sector
This is a vast and diverse sector, sectionally and categorically.
Some parts of the real estate sector cannot operate when
the country is in a standstill as is in South Africa. Since the
announcement of the national lockdown in the country a
plunge has been felt largely by traditional real estate agents
that communicate with property buyers and sellers on a
face-to-face basis. With regulations forbidding movement
and advocating for social distancing, real estate agents’
services are halted and this industry in the sector is not
fruitful financially.
This is not to say that they are the mostly suffering sectors.
According to managing director at RCLCO, Brad Hunter, real
estate industries that have been hit the hardest so far by the
COVID-19 lockdown are hotels, restaurants, bars and other
entertainment retail outlets, particularly in tourist-driven
areas. Also included in the number of sectors affected
negatively and widely are retail and housing particularly
second-home and luxury homes.
Of the many other implications of the COVID-19 and
the 21 days lockdown announced by the president of the
republic of South Africa commencing on the 26th March,
these are the very first few sectors negatively affected, more
information can be found in this informative book.
SOURCES WHO, National Institute for
Communicable Diseases, RCLCO
COVID-19 - 2020
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