The idea of a new real estate bubble for the rental market has lost strength among Spaniards, for the first time in four years, going from 60% to 54%, according to the study ‘Half a year of pandemic: impact on the sector real estate ‘published by Fotocasa.
The real estate portal has pointed out in its report that the coronavirus pandemic has not only changed the behavior of Spaniards in relation to the real estate market, but has also changed their perceptions and opinion.
Regarding the data from before the pandemic, Fotocasa has indicated that there have been “two significant changes”, one of moving away from the idea that there is going to be a real estate bubble for rent and another that has to do with it has slightly reinforced the idea that the feeling of ownership remains deeply ingrained in the mentality of the Spanish.
Anaïs López, Fotocasa’s communication director, has pointed out that it is an “important” trend change because it means that the Spanish “are beginning to see price declines.”
In addition, the director stressed that Spain is still “a country of homeowners” and that proof of this is that the demand to buy homes has increased if the data from now are compared with those from before the pandemic, going from 39% at 43% today.
In relation to the rental market, 49% of those surveyed have said that they do not have a position on how the price control announced by the Pedro Sánchez Government will affect, compared to 32% who think that it will favor balance between supply and demand, while 19% think the opposite will happen.
The study also shows that 49% believe that many of the tourist properties will go to residential or long-term rental due to the coronavirus pandemic.