Coronavirus Spain real estate

“And This Too Shall Pass”

Questions about what is currently happening in Spain, how things stand with coronavirus, and whether a global quarantine will be introduced come to us daily. Should we make sudden moves? We think — NO. Everything passes, all crises end eventually, but it’s worth thinking about how to stay afloat.

We recommend reading only official sources, not listening to experts from Instagram, but turning to the World Health Organization and official information about the situation in Spain:

a) El Ministro de Sanidad (Ministry of Health) b) La Ministra de Defensa (Ministry of Defense) c) El Ministro del Interior (Ministry of Interior) d) El Ministro de Transportes, Movilidad y Agenda Urbana (Ministry of Transport)

Newspapers: El País, El Mundo

Situation at Spanish airports: Aena

Virus spread map: worldwide and Spain

Currently, the work of government services in Spain is suspended (or practically stopped), so if you are planning to make a deal with us in March or early April, contact our employees: Ksenia Kanchik (Alicante office), tel. +34 633 247 966, [email protected] Natalia Pugach (Torrevieja office), tel. +34 633 678 581, [email protected]

If you approach the issue with a cool head, you can find positive aspects too. Let’s look at what we can offer.

1. Look for opportunities

Instability affects not only buyers’ decisions, but sellers’ too. Right now, excellent options at attractive prices may appear. Offers are being tracked by everyone who understands how the real estate market works, so we advise subscribing to our newsletter to receive the best offers. Liquid real estate is quickly acquired at below-average prices. This is an excellent way to preserve assets from inflation and earn money.

It’s especially important to track new construction and direct offers from developers. From an investment perspective, they are also attractive — new homes have higher energy efficiency ratings, meet modern environmental requirements, use new materials and technologies that reduce maintenance costs.

Developers are bound by obligations to clients, banks, employees and deadlines, so they cannot postpone construction during a crisis. In such cases, you should prepare in advance to catch the best offers.

When signing a contract at the construction stage, the cost is fixed in the contract, and payment is divided into stages until the property handover date. Moreover, reserving property from a developer can usually be done without traveling to Spain — everything is signed online.

2. Buy from home

The second thing to do is think about what can be done remotely. In fact, such operations are quite popular. The entire process of buying a house or apartment in Spain can be broken down into stages, and part of them can easily be conducted online — from selecting a property in the catalog to obtaining NIE and arranging health insurance.

What to do if you like a house or apartment but are not sure about your choice? Order a survey! A qualified specialist will not only inspect the house but also check things you might not have noticed: talk to neighbors, assess the neighborhood infrastructure, and send you a detailed report with photos based on the results.

If you know a specific place where you want to buy an apartment, you can make an online reservation of the property you like and after the situation improves and borders open — conclude the deal in Spain, fixing the price. This is especially relevant for new construction.

If the potential deal amount exceeds 500,000 EUR, you can also apply for a Golden Visa remotely.

Contact our managers to create a step-by-step plan taking into account your wishes and the current situation.

3. Filter information

The third thing we can advise is to get information from verified sources. You can read dubious opinions on the internet and take them to heart, but you definitely shouldn’t make decisions about buying a house based on “what others think.”

Look at statistics, read press releases and reports from official organizations. Information about the number of Covid-19 infection cases is updated regularly.

The local healthcare system is capable of handling what’s happening. Everything is organized and coordinated smoothly, without unnecessary panic — largely thanks to the open Spanish mentality.

Here’s something else worth remembering: during crisis times, you may encounter fraudulent offers — from opening a bank account without your participation to receiving a deposit without proper registration and transfer to a private person.

Scammers count on panic and confusion, so don’t perform any operations without certainty, check everything several times — whether the offer is within the legal framework or looks suspicious. If something raises doubts, it’s better to refuse, preserving your nerves and money.

4. Make informed decisions

Over the past 20 years, we have survived more than one crisis together, and we will survive this one too. And from our experience, thoughtful actions bring benefits in the long term.

Countries are closing borders, limiting air travel, imposing quarantine — such measures don’t last forever, it’s worth waiting it out rather than looking for workarounds, putting yourself and your family at risk.

Airlines are planning to cut a total of 4,400 flights through the end of March, including popular low-cost carriers — Ryanair, EasyJet, Wizz Air, local Spanish companies, and even giants like Lufthansa.

Yes, planes still fly to Spain from many countries, but by choosing dubious transit options, you risk finding yourself in isolation — any flights can be cancelled at any moment. Are you ready for such a risk? Perhaps it’s better to monitor the situation and play by the rules?

We cover the current situation with coronavirus in Spain on social media and are ready to answer any of your questions — just contact us.

We hope that soon we will be discussing only good news and enjoying the Spanish sun!