{"id":987490050,"date":"2020-04-13T13:07:11","date_gmt":"2020-04-13T11:07:11","guid":{"rendered":"https:\/\/assetmanagementspain.runna-digital.com\/impact-of-covid-19-on-the-real-estate-sector\/"},"modified":"2020-04-13T13:07:11","modified_gmt":"2020-04-13T11:07:11","slug":"impact-of-covid-19-on-the-real-estate-sector","status":"publish","type":"post","link":"https:\/\/assetmanagementspain.com\/en\/impact-of-covid-19-on-the-real-estate-sector\/","title":{"rendered":"Impact of COVID-19 on the Real Estate sector"},"content":{"rendered":"

The real estate sector has been affected by this pandemic, like most sectors right now, which has an impact, yes, it will be a short-term footprint<\/strong>.<\/p>\n

There are several points where we have been able to see a direct consequence. Most of the locals<\/strong> have been temporarily closed, as well as the hotels<\/strong>. This added to the moratorium on rental payments that the Executive is considering approving, translates into uncertainty on the part of the owners <\/strong> of said properties.<\/p>\n

In the case of buildings<\/strong> whose homes are both holiday rentals<\/strong> and long stay<\/strong>s, they encounter the same problem. Will they stop receiving their income?<\/p>\n

It is true that the measure of the moratorium and the suspension of rent payments will depend on the vulnerability of the person who has to pay <\/strong> and whether this health crisis has left him or her in a particularly delicate situation, so that at the moment we cannot anticipate events.<\/p>\n

On the other hand, there is security in corporate buildings<\/strong>, since at the moment no company has been so affected as to not be able to assume the cost of leasing them. Companies large enough to have a complete office building are opting for other measures such as ERTES or temporary salary freezes. Therefore, both investors and owners are not affected.<\/p>\n

And finally, the construction<\/strong>. The break that we are experiencing in our country has forced the construction sector to stop its activities, so there will be a delay in sales<\/strong> of said buildings or homes. In any case, it is only a delay, since today, April 13, these professionals have permission to return to their workplace. In this sense, it is not something worrying.<\/p>\n

In general, the professionals at Asset Management Spain<\/strong> feel optimistic<\/strong> about the future of the sector. It is true that there will be a small slowdown in the huge growth that the real estate world was having in Spain before the Covid-19 crisis, but it is not definitive.<\/p>\n

Could real estate sales fall? On the one hand, yes, we do not doubt that on many occasions someone who had planned to buy a home and who has lost his job, delays the purchase, or even cancels it.<\/p>\n

But we find another front, divestment<\/strong>. Some investors will want to divest to save and put other businesses like their companies first, so there will be new opportunities in the market<\/strong> for those who seek to continue investing. The cycle will then continue to run.<\/p>\n

From Asset Management Spain<\/strong>, based on the current circumstances and our own experience over more than 25 years working in the sector, we send a calm message to investors, operators and professionals in the real estate sector<\/strong>. This is not the end.<\/p>\n

In addition, before encountering this unpleasant health emergency situation, Spain was experiencing a real estate boom, becoming the most attractive point in the European geography for Latin American fortunes and investors, especially from Mexico and Venezuela.<\/p>\n

We have a more solid economic structure than years ago and the collateral damage will not be serious. Covid-19 definitely has an impact on Real Estate, but the slowdown will recover in a matter of months. <\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The real estate sector has been affected by this pandemic, like most sectors right now, which has an impact, yes, it will be a short-term footprint. There are several points where we have been able to see a direct consequence. Most of the locals have been temporarily closed, as well as the hotels. This added […]<\/p>\n","protected":false},"author":3,"featured_media":987489563,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[44],"tags":[],"class_list":["post-987490050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nImpact of COVID-19 on the Real Estate sector - Asset Management Spain GestMadrid<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/assetmanagementspain.com\/en\/impact-of-covid-19-on-the-real-estate-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Impact of COVID-19 on the Real Estate sector - Asset Management Spain GestMadrid\" \/>\n<meta property=\"og:description\" content=\"The real estate sector has been affected by this pandemic, like most sectors right now, which has an impact, yes, it will be a short-term footprint. 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