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Life after Coronavirus

Posted: Sat Apr 25, 2020 5:08pm
175 replies9828 views19 members subscribed
Derekings

Posts: 6

14 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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Posts: 3024

5599 helpful points

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.

Despegue

Posted: Sat Apr 25, 2020 7:05pm

Despegue

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Posts: 101

184 helpful points

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

Helpful member

Posts: 101

184 helpful points

Location: Orihuela Costa

Joined: 23 Sep 2019

Posted: Sat Apr 25, 2020 7:08pm

This post that was quoted has been deleted.

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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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 

Despegue

Posted: Sat Apr 25, 2020 9:49pm

Despegue

Helpful member

Posts: 101

184 helpful points

Location: Orihuela Costa

Joined: 23 Sep 2019

Posted: Sat Apr 25, 2020 9:49pm

This post that was quoted has been deleted.

Haha, no properties to rent in Spain, although we are building some properties to be used by my family.

I do have experience in real estate however.

Wriggs69

Posted: Sat Apr 25, 2020 10:25pm

Wriggs69

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Posts: 156

192 helpful points

Location: Torrevieja

Joined: 5 Oct 2019

Posted: Sat Apr 25, 2020 10:25pm

Despegue wrote on Sat Apr 25, 2020 9:49pm:

Haha, no properties to rent in Spain, although we are building some properties to be used by my family.

I do have experience in real estate however.

Hi, 


To many negative comments regarding life getting back to normal,  these people that are saying property price will fall are correct. There house / apartments will be worth a less than they paid many years ago.

Think positive people and look forward . 

Lancelot

Posted: Sat Apr 25, 2020 10:40pm

Lancelot

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Posts: 507

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Location: La Finca

Joined: 24 Jun 2019

Posted: Sat Apr 25, 2020 10:40pm

This post that was quoted has been deleted.

There are likely a few who are on the brink of buying who wouldn't see offering a reduced price as screwing people. Instead buyers need to ensure they aren't the ones taking on an asset which is falling in value. It's a tough world where people need to look after themselves in the first instance. 

Derekings

Posted: Sat Apr 25, 2020 10:41pm

Derekings

Original Poster

Posts: 6

14 helpful points

Location: Torrevieja

Joined: 25 Apr 2020

Posted: Sat Apr 25, 2020 10:41pm

This post that was quoted has been deleted.

Hi Graham, As a buisness owner who is currently in total lockdown with my staff all furloughed, i can asure you i am very much part of "the Misery" as you put it.

I have been studying the area very closley and when it`s time to hang up my Boots and take it easy i was thinking of renting first to choose the area i prefer.

However, thanks for the "welcome"

Derek

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