How will the property market on the Costa Blanca be affected after the coronavirus?
In these difficult times, many of our clients ask us how the coronavirus will affect the property market on the Costa Blanca in 2020-2021.
Although there are more urgent problems such as people’s health and the terrible number of daily deaths from Coronavirus worldwide, people cling to something positive and continue to dream of buying a property on the Costa Blanca.
Finally good news, the Spanish Prime Minister announced that from next July 1, 2020, international buyers and tourists will be allowed access to Spain with all security measures.
The initial economic impact this coronavirus is having is important for most of our real estate and tourism sector and the relationship with how the pandemic will affect the real estate market and house prices in the north of the Costa Blanca / Marina Alta .
When talking to other real estate agents and following the different economic reports published about our sector every day, all experts agree that the prices of newly built homes are not going to rush down in coastal areas, the current proportion of homes New construction is below demand.
The current supply of plots is scarce and we do not have a large stock of newly built homes, the product that is under construction corresponds to the 2020-2021 plans and the builders have started to send us the information of the promotions for 2021. 2022.
All the builders continued with the planned works, they only stopped working two weeks by order of the government.
Of course, we are currently selling fewer houses because customers cannot come … but this will not translate into a drop or a rise in prices, perhaps second-hand homes that are over 25 – 30 years old are going to go down and only in certain areas, there will be no global drop in prices unlike what happened in 2008.
The prices of all the new constructions we have remain the same as before the pandemic … and are not expected to increase … all the constructors have kept their prices …
I hope this explanation is useful to you, we always talk with reliable data and information …