How Is The Property Market in Spain This Year

What a difficult year 2020 has been for many of us due to the terrible coronavirus.  It is rumoured to have a big economic impact on many but clients and owners are already asking us how is the property market in spain this year and what is the short-term impact on property prices in Spain and along the Costa Blanca.

Whilst in #lockdown for more than 3 months, we were busy adding new listings for sale in Guardamar and along the Costa Blanca and we were speaking to many of our clients who, whilst they could not travel, were still exploring the idea of buying a property in Spain.

We work closely with a number of key collaborating estate agents along the Costa Blanca and spoke to them to see how their experiences were during lockdown and it may be surprising to hear that many of them were still busy, able to sell properties for people living here or who maybe got back to Spain before Boris Johnson decided to reimplement the 14 day quaratine rule for those returning to the UK from Spain.

Some clients are asking (even hoping) if prices will fall.  The honest answer at this time is that no one knows.  Prices are not being reduced along the coast and ,whilst some prices are being reduced, this is mainly due to the properties for sale were originally over-priced and their agents have explained to them the real market valuation and to capitalise on the number of clients still here in Spain for their summer holiday who maybe looking to buy a property in Spain.

I have read mixed reviews on the Spanish property market this week; one article suggested prices (in some areas) had dropped whilst other areas had seen an increase.  The 2nd article suggested that the 2nd quarter of 2020 was still very good.  I think we will start to see things re-align in Q3 as the usual summer market slows down and less tourists were here due to the Coronavirus etc.

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