From our own experience and from other real estate market experts, we can affirm that the sales of second-hand properties and new construction homes will not stop despite the Coronavirus.

We cannot deny that the Coronavirus situation has negatively affected most markets, but it has not collapsed the real estate market; as some estimated.

In fact, currently in Spain, leasing transactions are lower than sales. This variable is due to:

The restrictions that this situation has brought to national tourism and its accommodations.
The fear of many owners for renting, due to possible infections and its consequences.
Union of families who previously did not live together, but due to their work situation, can not afford to pay rent.
The drop down in prices for new and re sale properties.

This last reason is the one that is most talked about and the one we all expected; in any economic crisis those who still have a medium-high purchasing power, take the opportunity to invest.

Thus, in an almost general way, Spanish real estate agencies had a fairly strong home buying and selling activity in the months of June and July.

While it is true that unemployment has skyrocketed and uncertainty paralyzes many. This cautious attitude of future home buyers may change as a result of the need for many unlucky home owners who have to sell out of necessity.

The Naranja Spain Real Estate team agrees on current estimates of the closing of 2020 for the real estate market in Spain: estabilisation

Property prices will remain around current values. Real estate bargains as a consequence of the need to sell; won’t be published on real estate portals, so having good contacts such as a local real estate agency that well knows its neighbors is a must for the key to succesful investment.