To say we’ve been through the ringer in the past year would be a gross understatement. We’ve had to deal with Brexit and peoples fears about the property market and investing in property on the Costa del Sol; then just when we had you convinced that Brexit wouldn’t make a deep impact of the Brits buying property, we get hit with a virus. Of course, this isn’t just Spain or Marbella property currently on the back burner, this as you know is a global pandemic. However, the question remains, how has Covid-19 affected property investments?
In this article, we take a close look at the property market and crunch the numbers a bit to see if the long-term effects are as doom and gloom as it seems.
Smart Investors are Looking to Diversify Their Portfolio During This Time
Believe or not, real estate in Spain is still fashionable and a good investment. Even though many cities remain in lockdown, the Spanish government has implemented phases just in time for the summer. Believe us when we say, the collective sigh of relief across the Costa del Sol could be heard in Morocco.
Incredibly, and what pushed us to write this article, we’ve noticed an uptick in property information requests from our website. We’ve even had an uptick in our social media accounts with more views and likes. Basically, we are getting attention again, and diving a bit deeper, we quickly found out why.
One thing you must understand is before Covid, the Spanish economy was only getting stronger. We reached a peak back in 2018 that put us on the road to success. Tourism was off the charts with record breaking numbers for 5 years in a row. By the end of the year in 2019, we had a major growth in the property market, and according to statistics released by the Central Bank of Spain in November 2019, the return expected on the residential Real Estate market in Spain was 8,5%+.
[Source: https://www.bde.es/bde/en/areas/estadis/]
