{"id":2295234,"date":"2020-03-20T20:54:53","date_gmt":"2020-03-20T19:54:53","guid":{"rendered":"https:\/\/intermobiliaria.es\/?p=2295234"},"modified":"2020-03-20T20:54:53","modified_gmt":"2020-03-20T19:54:53","slug":"spanish-housing-market-hit-in-the-face-by-gale-force-coronavirus-headwind","status":"publish","type":"post","link":"https:\/\/intermobiliaria.es\/en\/spanish-housing-market-hit-in-the-face-by-gale-force-coronavirus-headwind\/","title":{"rendered":"Spanish housing market hit in the face by gale-force Coronavirus headwind"},"content":{"rendered":"

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The Coronavirus situation in Spain has become extremely serious with one of the fastest rising contagion rates in the world, prompting the Government to decreed a countrywide lockdown lasting 15 days. This is the beginning of a shock that I expect will paralyse the Spanish housing market, in particular the second home market, for at least the next three months.<\/p>\n

According to an article in the New York Times this weekend, Spain has become the latest epicentre of Coronavirus after a faltering response.<\/p>\n

A particular blunder by the Spanish government was allowing massive rallies like the International Women\u2019s Day rally in Madrid last Sunday, March 8, at a time when the Coronavirus was raging in Italy, and there were already 589 confirmed cases in Spain. Partly as a result, contagions in Madrid exploded.<\/p>\n

So the government has declared a \u2018State of Alarm\u2019 (or State of Alert, depending on translation) lasting fifteen days until 30th<\/sup> March if no longer, with people expected to stay at home and self-isolate as the whole country gets put in a cordon sanitaire. All tourism and leisure businesses will close. This is going to hammer the Spanish economy, which relies heavily on tourism and services.<\/p>\n

This is all terrible news for the Spanish housing market, especially the second-home market, which relies so heavily on tourism. Sales activity will be paralysed for three months at least, possibly longer. It looks like 2020 could be a write off.<\/p>\n

This Coronavirus shock to the market will probably create an opportunity for buyers when the dust settles, but it\u2019s obviously bad news for sellers.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Coronavirus situation in Spain has become extremely serious with one of the fastest rising contagion rates in the world, prompting the Government to decreed a countrywide lockdown lasting 15 days. This is the beginning of a shock that I expect will paralyse the Spanish housing market, in particular the second home market, for at […]<\/p>\n","protected":false},"author":2,"featured_media":2361862,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[21],"tags":[],"class_list":["post-2295234","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"meta_box":[],"_links":{"self":[{"href":"https:\/\/intermobiliaria.es\/en\/wp-json\/wp\/v2\/posts\/2295234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/intermobiliaria.es\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/intermobiliaria.es\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/intermobiliaria.es\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/intermobiliaria.es\/en\/wp-json\/wp\/v2\/comments?post=2295234"}],"version-history":[{"count":1,"href":"https:\/\/intermobiliaria.es\/en\/wp-json\/wp\/v2\/posts\/2295234\/revisions"}],"predecessor-version":[{"id":2295235,"href":"https:\/\/intermobiliaria.es\/en\/wp-json\/wp\/v2\/posts\/2295234\/revisions\/2295235"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/intermobiliaria.es\/en\/wp-json\/wp\/v2\/media\/2361862"}],"wp:attachment":[{"href":"https:\/\/intermobiliaria.es\/en\/wp-json\/wp\/v2\/media?parent=2295234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/intermobiliaria.es\/en\/wp-json\/wp\/v2\/categories?post=2295234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/intermobiliaria.es\/en\/wp-json\/wp\/v2\/tags?post=2295234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}