The Impact of COVID-19 on the Costa del Sol Property Market

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#podcast #costadelsol #covid-19
All of our clients are asking us what´s happening to the real estate market here on the Costa del Sol. Frequent questions include:
– Is anybody buying? Is anybody selling?
– Are property prices falling?
– Is now the time to bag a bargain?
– What happens next?

In our latest video podcast episode, our Managing Director, Sean Woolley (the Costa del Sol ´Property Doctor´), is joined by Emma Kavanagh and Dominik Maroszek in providing their honest assessment of the market´s current status, and where it could be heading.

Contact us for more information on info@cloudninespain.com or call 0034 951 203808 or Whatsapp 0034 622650646.
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6 gedachten over “The Impact of COVID-19 on the Costa del Sol Property Market

  1. Clearly it’s not in your business interest to suggest prices are/will be falling. Cause, since we are at the start of this unprecedented economic crisis, potential buyers would wait for further prices fall, which would mean less business for your agency. All experts around the world are predicting steep house prices falls. Even basic logic and past experience would suggest prices falling in the next 6/12 months: people income reduced, unemployment rising, no tourists which will impact landlords of buy to let to tourists yet having to still pay the mortgage etc. All these factors will lead to unprecedented more supply of properties with very little demand- even potential buyers from outside Spain are suffering the same financial hardship in their countries. This will play out until at least 2021. For example this summer there will hardly be any tourists in Spain, or very little to be able to address the above issues cited.

  2. IMO you guys are way too optimistic. We are potentially facing the biggest economic crisis of all time. Luxuries could be a thing of the past for a very long time…

  3. Thanks for your thoughts, this was an interesting and enjoyable video. I personally think your outlook is somewhat on the optimistic side, but of course it's an area for opinions (and yours is very arguably better informed than mine, although in my defence I'm not an estate agent..!). I simply don't think you can assess the impact of the hiatus (which includes for many a freeze on substantial rental income) yet. For me, the suggestion that it is simply a buyer/seller "pause" that should resume at previous market values when the situation returns to normality, is also off the mark. There are people holding property who are being squeezed more and more as every day goes by, with no end in sight for weeks. Many of them also have reduced employment income. I think it's inevitable that will have a significant impact on the market as a whole when a form of "business as usual" returns. Anyway, let's see. Interesting times…

  4. How many Spaniards//other Europeans would consider RENT 2 OWN!!//Buy…Please.

  5. Thanks! What some developers are saying is that some slow moving developments were overpriced by roughly 20% before the pandemic so these are the ones likely to see reductions in order for them to meet their year-end commitments to the banks/investors. But for those sought after developments, the existing stocks have largely been sold already and are awaiting delivery, so rather than a price reduction as such, developers will be less likely to hike the prices in subsequent phases as these are released…

  6. Wow I have been offered loads of properties with at least 20-30% discount !

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