Corona Virus Effect on Marbella Real Estate Market

Corona Virus Effect on Marbella Real Estate Market

The highest fall in house sales and mortgages from 2013 to the Spanish land Market. the primary public data is now coming available showing the impact of the Coronavirus within the land market with the figures of the notary offices showing a drastic fall within the numbers of signatures of purchases and mortgages in March.

Coinciding with the beginning of the Spanish Lockdown and therefore the State of alarm, house sales fell by 37,5%. The mortgages by 28% of the annual figures. Prices also fell by about 2.2%, but this could not flow from to the Covid-19 issues.

However, as an expert Marcos Loriente, a real estate agent with more than 16 years of experience with HHomes ready to help you even in this tough period. So, contact the best Real Estate Marbella.

On an annual basis, the Covid-19 crisis the most important landfall since December 2013 when it had dropped by 51%. In March there have been 32.332 purchases and 18.446 mortgages signed. 

Many of the operations which were signed in March were previously agreed upon. They were considered urgent under the regulations of the State of emergency and allowed to continue. The figures for April and should are getting to be catastrophic because it has been impossible to go to homes, perform valuations, and in fact, the prohibition of the movement of individuals ensures that the important estate market has been effectively closed for business since 14th March 2020.

How does that affect us going forwards into 2021 with all types of restrictions in place? We, like many other real estate Marbella agents, have deals that are postponed, renegotiated, and a number of others canceled. From 18th May land agents may reopen their premises. However, with the Spanish government enacting a law from Friday 15th May until the top of the State of emergency that anyone entering Spain are going to be obliged to self-quarantine for 14 days means even more delays and cancellations of travel plans.

Overseas residents own approximately 35 you look after second homes within the Costa del Sol. These are precisely the clients that are needed to be allowed to return to Spain. It means the sole activity and interaction that the Marbella until a minimum of the top of June is with the local market. we’ll be open for business, but with no clients through the doors, sales aren’t getting to happen at the standard numbers for the time of year.

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