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Life after Coronavirus

Posted: Sat Apr 25, 2020 5:08pm
208 replies8901 views19 members subscribed
Derekings

Posts: 6

12 helpful points

Location: Torrevieja

Joined: 25 Apr 2020

Hi Everyone, i`m new to this Forum and wanted to ask what you think will happen to rental/property prices after this difficult time ?

I would like to spend some time in the area and am interested in your thoughts,

Regards`

Derek

Movingon

Posted: Sat Apr 25, 2020 5:36pm

Movingon

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Location: Albatera

Joined: 7 Feb 2018

Posted: Sat Apr 25, 2020 5:36pm

I would expect rental prices to fall substantially, ruinously even.

Many owners rely on rental income to pay mortgages etc. and wlth effectively no summer season this year, and very likely little demand for Winter lets either, the laws of supply and demand will create massive competion which in turn will depress prises as increasingly desperate owners cut each others throats in a race to the bottom.

Property prices must also fall and there is bound to be a tide of repossesions which will only depress them further. 

That said there are always bargain hunters with money to spend so it will be a buyers bonanza with them calling all the shots. 

John56

Posted: Sat Apr 25, 2020 5:38pm

John56

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Location: La Zenia

Joined: 7 Jul 2016

Posted: Sat Apr 25, 2020 5:38pm

I hope I am wrong but I believe it will be worse than the property crash of 2008.

RayD

Posted: Sat Apr 25, 2020 5:59pm

RayD

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Joined: 6 Jan 2016

Posted: Sat Apr 25, 2020 5:59pm

This post that was quoted has been deleted.

You may have to add in the brexit factor as well.

A lot of brits who hoped to buy in Spain before becoming third country nationals, with the extra income requirement, may change their minds. Even though property prices will be lower.

Second homes in Spain may also become uneconomic to run, giving the owners the choice of selling at a lower price than they bought, or having to cough up more cash to keep them going.

There is also the fact that the change in lifestyle may not be what foreigners want, with restrictions on the beaches and in the bars.

It's not only Spain that will be affected, but everywhere, including the UK. It may be a few years before things get back to the normal of last year.

Castleman

Posted: Sat Apr 25, 2020 6:22pm

Castleman

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Posts: 178

148 helpful points

Location: Sax

Joined: 1 Feb 2020

Posted: Sat Apr 25, 2020 6:22pm

Only my opinion,if it goes well and Spain gives the go ahead to open hotels and accomodation  and flights into Spain by September ,guarantee you the teachers in UK will still demand the Autumn half term even though they had time off because of lockdown,so that will be the late holiday before Christmas .

Despegue

Posted: Sat Apr 25, 2020 7:05pm

Despegue

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Posts: 105

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Location: Orihuela Costa

Joined: 23 Sep 2019

Posted: Sat Apr 25, 2020 7:05pm

Nope.

Property will not take a huge hit, especially not the upscale areas will not. Real Estate is and will be seen as a Safe Haven, more so than commodities and stock markets, Most investors in the Costa’s are coming anyhow from Northern and Western Europe where the financial consequences of most people able to buy second properties are not that much affected. Now more than ever do they realize that a place in the sun to enjoy with family is important. In any case, prices are low compared to neighbouring countries. What might not prove popular anymore though is old places like villa’s from the 80’s without insulation. Upscale Quality projects like Las Colinas Golf will thrive and keep/increase their prices.

Rental properties will see a surge in demand, hotels though might see an initial decline.

Despegue

Posted: Sat Apr 25, 2020 7:08pm

Despegue

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Posts: 105

176 helpful points

Location: Orihuela Costa

Joined: 23 Sep 2019

Posted: Sat Apr 25, 2020 7:08pm

RayD wrote on Sat Apr 25, 2020 5:59pm:

You may have to add in the brexit factor as well.

A lot of brits who hoped to buy in Spain before becoming third country nationals, with the extra income requirement, may change their minds. Even though property prices will be lower.

Second homes in Spain may also become uneconomic to run, giving the owners the choice of selling at a lower price than they bought, or having to cough up more cash to keep them going.

There is also the fact that the change in lifestyle may not be what foreigners want, with restrictions on the beaches and in the bars.

It's not only Spain that will be affected, but everywhere, including the UK. It may be a few years before things get back to the normal of last year.

Any restrictions are TEMPORARY. This will all be in the past so don’t be hysterical, sit back, relax and prepare for the old times to come back fairly soon. 

Dlrsantapola

Posted: Sat Apr 25, 2020 8:16pm

Dlrsantapola

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Posts: 605

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Joined: 17 Mar 2018

Posted: Sat Apr 25, 2020 8:16pm

This post that was quoted has been deleted.

Give the bloke a break will you,  he's only asked a question 

RayD

Posted: Sat Apr 25, 2020 8:30pm

RayD

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Posts: 7241

6234 helpful points

Location: Catral

Joined: 6 Jan 2016

Posted: Sat Apr 25, 2020 8:30pm

Despegue wrote on Sat Apr 25, 2020 7:08pm:

Any restrictions are TEMPORARY. This will all be in the past so don’t be hysterical, sit back, relax and prepare for the old times to come back fairly soon. 

Restrictions due to brexit are certainly not temporary, which is why so many brits were anxious to buy in Spain and register before the end of December. The coronavirus crisis has made that very difficult to achieve and a lot won't be able to afford the increased income requirement from January 1st. That's why there aren't as many third nation immigrants in Spain as there are EU and EEA citizens

I have to admit that I'm not sure about property prices as, although there will be a lot going on the market, there could be a big influx from northern Europe where the economies don't seem to be damaged so badly. We could have a lot more Nordic neighbours.

Castleman

Posted: Sat Apr 25, 2020 9:02pm

Castleman

Helpful member

Posts: 178

148 helpful points

Location: Sax

Joined: 1 Feb 2020

Posted: Sat Apr 25, 2020 9:02pm

Life after Corona ,there will be a Public health crisis of sexually transmitted diseases,with everybody being on lockdown ,people got needs Lol 😂 buy your shares now in contraceptive products .

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