Coronavirus Causes Property Price Reductions In Spain

Published:  17 Jun at 6 PM
Want to get involved?

Become a

Featured Expat

and take our interview.

Become a

Local Expert

and contribute articles.

Get in

touch

today!

British expats making a permanent move to Spain can take advantage of a fall in property prices due to the pandemic.

During the crisis, many would-be expats weren’t unable to make the move due to lockdowns and a total lack of flights. Now the Spanish wave of infections and deaths seems to be slowing, property prices in hard hit areas are falling, but those provinces with fewer infections are seeing significant property price rises.

Experts are convinced the Spanish real estate sector is in for a readjustment, although it seems the degree of the collapse may be less severe as that in 2008 even although demand is expected to be comparatively low. Local interest in moving house will be dampened down by a lack of job growth and a rise in unemployment, with Brits looking to buy at that point in time able to get discounts on already lower prices.

Regions to consider include the outskirts of Madrid, Navarra and Castilla y Leon, whilst areas least affected by the pandemic such as Andalusia, Murcia and the Balearics islands are seeing slight increases in the price of property. All had comparatively few infections and deaths, and house prices are now between 3.8 and 6 per cent higher than last year.

In the meantime, expats living along Spain’s Mediterranean coastline are overjoyed at being allowed on the beaches, even although masks and social distancing are mandatory. The Costa del Sol region is preparing to welcome British tourists, some of whom will, no doubt, be would-be expatriates desperate to flee the coronavirus chaos back in the home country.

Comments » No published comments just yet for this article...

Feel free to have your say on this item. Go on... be the first!

Tell us Your Thoughts On This Piece:

RECENT NEWS

Celebrating Hanukkah In The Netherlands

As the year draws to a close and more and more of your daily life is conducted in the darkness of winter, the Jewish fes... Read more

Why The Netherlands Is The Best Place For Expats To Start A Business

Practica Coaching offers various coaching programmes, tailored to help you take that next step in your career or to help... Read more

How To Deal With Difficult People At Work

I was brought to tears by my boss once in my life. I was 21, inexperienced and a bit naive - just like a 21-year-old sho... Read more

7 Dutch Christmas Traditions To Incorporate Into Your Festivities

Whether this is your first Christmas in the Netherlands or you just want to start celebrating the festive season the Dut... Read more

How To Get A Car In The Netherlands: A Guide For Expats

Moving to a new country can be stressful. There is a lot to take care of, including transportation such as a car. Mobili... Read more

Dutch Tongue Twisters To Master Your Pronunciation

Learning Dutch is challenging - especially when it comes to the pronunciation - but if you really want to put yourself ... Read more