Housing Demands in a Complex Economic Situation: The Case of the Post-Covid-19 Pandemic in Palestine
Publication Type
Original research

It was noticed that the post-Covid-19
pandemic (the year 2021) showed an economic crisis with
many economic influences, and the radical changing of
currency exchange values in Palestine is one of the most.
Such currencies are Israeli, Jordanian and American
currencies. This fact affected all economic sectors,
especially the housing sector. This paper tries to
understand the economic effects of the pandemic on the
Palestinian housing market with special reference to the
changes in currency values. Although many countries have
suffered from economic impacts due to the pandemic,
Palestine is chosen as a case for the complicity of the
economic situation, as there is not a local curacy for the
Palestinians yet. The effects of the currency fluctuation
exchange were discussed in terms of financing,
constructing, selling, and renting housing units. Then the
paper explores the results of observations and interviews
with many institutional investors, economic experts, and
decision-makers to understand these impacts. The
investigation revealed that the latest currency fluctuation –
during the year 2021-greatly affected the private sector
represented by ordinary investors, and small and large real
estate development companies alike, and also affected the
ability of individuals to buy housing, which also decreased
the effective demand for housing in Palestine to a very low
rate. This led us to believe that the Palestinian housing
market is fragile and not prepared to receive sudden
economic changes –such as this pandemic- due to the lack
of a local currency for the Palestinians. Accordingly, a set
of recommendations was listed to reduce such impacts in
the future and to ensure supplying suitable housing units in
terms of healthy, economic, and social aspec

Advances in Economics and Business
Horizon Research Publishing(HRPUB)
Publisher Country
United States of America
Publication Type
Both (Printed and Online)