How the Spanish real estate market will be affected after the corona virus
6 May 2020In these difficult times; many people are asking how will coronavirus affect the Spanish property market in 2020 and when will we be able to return to Spain (for some, to visit their hoiday homes on the Costa Blanca).
Whilst there are more immediate pressing issues in terms of peoples health, social distancing and the terrible daily death toll from the Coronavirus, people are clinging onto anything positive and keep dreaming about when they can start to travel again. Looking to buying a Spanish property later this year and when they can visit again.
The initial economic impact that this coronavirus is having is a worry for most and there is already concerns about individual economies and (for us) we are obviously worried about the coronavirus impact on Spain property market.
From talking to other real estate agents along the Costa Blanca, the current Spanish property market update is one of short term uncertainty and we are all asking eachother when our clients will be buying in Spain in 2020 again. The question from our clients is "when can we go back to Spain again?".
The first priority is managing the coronavrius in each country, containing the spread of the virus and reducing the number of deaths. How and when social distancing will be reduced or how long it will remain in place will have an impact on how & when the borders will be opended for international travel and therefore for potential buyers to return to Spain and start their search for a property along the Costa Blanca.
I know some people are fearing the worse and are already preparing for significant price reductions but I feel it is too early to predict if this will happen but we will have a better understanding once each country eases the lock down restrictions and we can all start to travel. How and when this is done will then impact on the short, mid and long term impact on the property prices in Spain and other countries.
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