Buying, selling or renting a property in Spain during the COVID-19 crisis

Freepik
Freepik
7 April 2020, Redaction

Spain is currently experiencing extraordinary circumstances during the period of confinement due to the coronavirus outbreak in the country. The health and economic crisis caused by the COVID-19 pandemic has been paralysing house buying and selling on a global scale.

However, this period of home confinement has positives and can be a good time to look for a new home and start preparing the buying process, all of which can done remotely. We have prepared a guide to help those thinking of buying, selling or renting a property in Spain, as well as the latest economic developments in Spain, tips on how to find a mortgage without having to leave your sofa, and advice for working from home and keeping your home organised.

Buying and selling

A global pandemic doesn’t sound like the ideal time to sell a property or to move house, but thanks to technology the process is becoming much easier. At idealista we are here to help and make your property search as stress-free as possible, including new features on the website where you can take advantage of virtual tours and view properties without leaving your home. Whether you already live in Spain and are in the middle of your property search, selling a property, or you’re planning to move to Spain in the near future, have a look at our advice:

Renting property

If you currently rent a property in Spain or own a property and rent it out, this period of confinement can also provoke difficulties and be particularly challenging for those in the rental market, tenants and landlords alike. However, the Spanish government has introduced measures for those most affected by the coronavirus crisis in Spain, including suspension of rental payments for the most vulnerable citizens.

Mortgages

Despite the fact that the banks are considered an essential service, not all branches are open and the authorities recommend not going out into the street unless absolutely necessary. However, in spite of this, those who are thinking of taking out a mortgage in Spain should keep in mind that the Internet is their friend and can be taken advantage of more than ever during the current circumstances. The Spanish government has also introduced measures for those most affected by the coronavirus and whose mortgage payments may be affected due to job or income loss.

The Spanish economy

Spain is undoubtedly facing one of its most challenging moments due to the coronavirus outbreak in the country, on the health front and also economically. The full economic consequences and the outlook for the real estate market in Spain will not be known until after the pandemic ends but it is thought that the crisis and the measures the government has had to take will take its toll on activity, employment, debt and deficit in Spain.

Life at home

Last but not least, it’s just as important to look after the wellbeing of you and your family at home during this time of confinement and we are here to help with some useful tips. The Spanish government has once again tightened up its national lockdown with further regulations, ordering all non-essential workers to stay at home. Therefore, it’s especially important at this time to be organised at home, in particular if you’re teleworking, and be able to make the most of your time and space.  

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Ready to find the house of your dreams?

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