Adapting to a New Business Life

Due to this worldwide pandemic, everyone has had to adapt to a new way of living. COVID-19 has sadly killed millions of people worldwide, separated families, increased bankruptcy, increased suicide rates, people have lost jobs and mental health is on the rise.  

Businesses have had to adapt and people have had to adjust to living with COVID-19.

NGFarah is no different and we have had to adapt quickly to a whole new business landscape. 

The Late Founder of NGFarah, Mr Nassim Farah, built his business on a Superior Property Management Service, which has kept the company in good stead during this difficult period.  

It has not just been hard for NGFarah – it has been difficult for every Property Management Business throughout Australia. The Rental Market has experienced shocks to demand and supply.

We manage multiple properties in the hardest hit areas - such as Kingsford, Kensington, Mascot and Maroubra Junction. This has been a direct impact from Students not being able to enter the Country, resulting in our Universities carrying that pain. 

We have been able to use our 70 strong staff, combined with hundreds of years’ experience, to adapt and give our clients a confident Property Management service during this crisis. 

Many industries have been hit hard, for example, the Airlines Business, the Hotel Business, the Car Rental Business, Airbnb Business and Upmarket Eateries in Big Cities which rely on Tourism – and the list goes on. 

The upside of having the Borders closed is that Australians who are considered “Great Travellers” of the world, have now been forced to travel within the Country and I suppose that has kept the Country alive and has highlighted Regional Australia. 

Real Estate prices around the Country have increased between 10 and 20%, because of COVID-19 and Interest Rates are at record lows. 

International Borders are due to reopen in early 2022, once the vaccine has been injected in to 70% of the Australian Population. Things may finally return to some sort of normality but we have learnt to survive on our own and that has been a good test for our Country.

Editorial by Glenn Farah, Marketing Director