The coronavirus It has been a blow to the Spanish economy. Although the sectors most affected are the hospitality industry and, above all, tourism, real estate it has not remained oblivious to the strong attacks of the pandemic. The first blow came with the confinement, which forced the visits to houses for sale to be postponed, but which forced the digitization of the companies in the sector, which enhanced their web image, their telematic channels and relied on virtual tools so that the interested party could know the product available without the need for a face-to-face appointment. Despite the commitment to the online environment, the figures of real estate transactions and of granting of mortgages they looked resentful.
In any case, and with the threat of a second wave motivated by the multiple outbreaks that devastate most of the Spanish geography, the real estate sector continues forward and hopes to recover part of the ground lost in the last four months of the year. For the buyer, this is good news, since, in addition to being able to buy below the market price, they will enjoy financing in very advantageous conditions, since mortgages are cheaper than ever.
Where to buy a home
Taking into account these premises, it is time to decide where to buy. The first-time home buyers They won’t stray too far out of their comfort zone, but investors will try to look for opportunities in a wider range. In both cases, the provinces where the capitals with the highest population density are located remain a safe investment. We are talking about cities where a great deal of business, training and tourist activity is concentrated, although to obtain a return through holiday exploitation, we still have to wait for the flows of foreign tourists to normalize.
Madrid capital It has barely noticed the impact of the coronavirus on its prices, since it has even raised its prices slightly in August: 0.57% according to the latest sales price report from piso.com. In the same way, the Madrid province increased them by 1.61% year-on-year. The evolution has been similar in Barcelona province (0.33%) and in Barcelona capital (0.24%). In any case, an apartment located in these cities is a refuge value. It is also important to bet on a nearby municipality, given that a mobilization of demand outside the urban belts is beginning to be perceived.
You have to go to other relevant provinces, but less pressured by demand to find interesting discounts. For example, in the province of Valencia, prices fell by -0.40% in August in interannual rate, registering its capital a cut of -1.20%. I would also fall into this group, for example, Toledo, a province adjacent to Madrid for which many tenants are betting. In the province, prices fell by -6.64% in one year, while in the city, they were cut by -4.26%. Already out of the first line, the aforementioned report from flats.com indicates that lThe provinces that reduced their prices the most compared to August 2019 were Lugo (-12.63%), Jaén (-7.11%) and Zamora (-6.96%).
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