[ad_1]
COVID-19 is the driving force behind the change, Euronews reports. According to a study by Idealista, the leading real estate website in Madrid, the interest in single-family homes far from the city center has increased by 18% in the last six months. But a website spokesperson predicts that there will be no price drop in big cities for two reasons, BGNES reported.
“There will be no price drop. First, because the demand is very high. And second, because the expectations of a rapid economic recovery are high, mainly due to European aid and the conditions that the European Central Bank offers for favorable loans,” he said Francisco Inyareta. spokesperson for the Idealista.
Beautiful residence in Brazil
On the other hand, the pandemic has also dealt a severe blow to rental home owners. The Spanish Federation of Estimates estimates that the losses will reach 4,500 million euros. Also, employment is said to have been cut in half during the summer. Lola only has two alternatives, given the shortage of tourists and the drop in prices.
“If you rent for a medium stay and pay a lot of taxes, on top of that the price has dropped, your benefit is very small. With a long stay you can deduct 60%, but you spend five years with someone at a very low price,” says Lola Martín. owner of a tourist apartment.
25 stunning penthouses that will be hard to choose from
Complex situations caused by an unpredictable pandemic. The coronavirus is causing major changes in the real estate market. The movements observed in Madrid are repeated in other cities such as New York, London or Paris.
[ad_2]
