What type of
housing is on the rise after the coronavirus?

The emergence of COVID-19 has altered many
of our plans, affecting all aspects of our daily lives and all economic
sectors.

Initially, experts warned about the dire
consequences of the coronavirus crisis on the real estate market , which could
face a recession and a fall in interest rates that would negatively affect
mortgages during COVID : in the month of March In the midst of the pandemic
throughout the world, housing was preparing to suffer significant price drops
after a few years of stability and to face the effects that a slowdown of such
magnitude could have on economic growth.

Of course, the current crisis context has
slowed down the signing of many sales and mortgages , and has led to a delay in
the definitive recovery of the residential sector, which will have to wait
until 2022.

However, and against all odds, the
situation of the real estate market seems to be less affected than expected ,
since many people consider that we are in a good time to acquire a home due to
the fact that prices are falling and buyers may have more bargaining power.

In addition, the confinement has made us
focus on analyzing our home and detecting both what we like about it and its
main shortcomings (lack of space or natural light, location, absence of outdoor
spaces or rooms, etc.), and many families are now considering moving houses .

→ It may interest you : Evolution and
trends in the real estate sector post COVID-19

Is it time to move house? This is the
profile of post-Covid buyers

During the first quarter of 2020, around
14% of individuals between the ages of 18 and 65 were looking for housing in
the rental market. Six months later, this percentage has dropped one point
(13%). The decrease in the case of sales is somewhat higher : up to two points
in the same period and in the same sector of the population (from 15% to 13%).

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This situation is mainly due to economic,
personal and social uncertainty , which have caused those who previously sought
to invest in housing to now rethink what to do with their savings.

At the same time, we find another sector of
the population that , upon detecting their new residential needs, seeks to buy
real estate taking advantage of the market situation and the foreseeable drop
in prices.

According to the Fotocasa portal, the
profile of these buyers corresponds to people between 30 and 40 years old, who
live as a couple (with or without children), have job stability and have
savings and a comfortable economic position.

Those who have also seriously considered
changing their home, both to buy and to rent, are the people who have been
forced to telework from their home in recent months and who, due to their new
work situation, are looking for homes with space enough to set up an office or
a work area.

Housing demand continues, but priorities
change

This phrase could describe quite clearly
what is happening in the housing market after the arrival of the coronavirus.

To begin with, and as we have already
pointed out, there has been a change in the profile of the home seeker .

Obviously, buying a house always has a
significant economic impact for families, but it is greater for those with
fewer resources and for young people. These sectors are the ones that, to date,
have been most affected by the pandemic and its effects and that, in the coming
years, will have the most difficulties in accessing a home.

The other important point that has also
changed compared to before COVID-19 and confinement are the priorities of the
buyers: currently they are looking for homes with outdoor spaces (balconies,
terrace, garden, etc.) and more spacious .

But, will this condition that some types of
housing increase in value in the coming months? ?

Of course . Faced with a greater demand,
the logical thing is that the price of these properties, both for sale and for
rent, increases.

However, its rise will not be proportional in
all territories, nor will it be the main factor to take into account when
deciding to change house . For example, in communities such as Andalusia and
Madrid, applicants pay more attention to the price when searching and comparing
houses, while, comparatively, in Catalonia the characteristics of the
properties have more weight when buying or renting .

With the crisis caused by COVID-19,
priorities regarding the location of housing have also changed: the centers of
the metropolitan areas of Madrid or Barcelona, ​​the main centers of the
pandemic ( largely due to their population density) and that traditionally had
higher prices, have lost value and demand in the market , and it is foreseeable
that in the coming months they will be somewhat more affordable.

What types of flats and houses are in
greatest demand after the coronavirus?

The customs acquired during confinement
have changed the way we value where we live.

If until now the location was a priority,
the presence of certain amenities and outdoor spaces are an important value
that few renounce and that has come to stay.

Currently, homes outside the cities are
more valued, which has increased the demand for villas or urbanizations far
from the center. This trend could continue over time, especially if teleworking
allows it.

An increase in investment in second homes
is also foreseen in coastal or rural areas , with large outdoor spaces, which
are considered as an alternative to enjoy weekends and free time.

In general lines, the houses on the rise and
that will increase their price after the coronavirus are:

Apartments and houses with balconies,
terraces, good views or garden

Communication with the outside and the
presence of natural light through any of these spaces is now more attractive
than ever , and it is essential when buying a flat or a house.

Selling a low, interior or low-light
apartment will be increasingly difficult even if it is located in a highly
valued area.

More spacious houses with an
"extra" room

Due to teleworking, the home has become a
work space and even a leisure space, and many people have had to adapt spaces
such as the living room or bedroom as an office or as a playground for their
children. Therefore, one of the trends is to buy houses with dormers or an
"extra" room . 

Houses on the urban periphery and in small
provincial capitals

Homes in urbanizations and chalets far from
the urban center and in nearby towns, and even in provincial capitals other
than those where one works or is studied, are also experiencing an increase in
price.

The main reason is that in these localities
it is possible to acquire larger flats or houses or with more comforts for less
money.

Well located apartments in central areas

Despite the situation, many small savers
are facing the COVID-19 crisis as an investment opportunity. These types of
buyers are looking for well-located homes, in central and well-valued areas, of
small size (40/50 m²) and that can provide rental income.

Our new routines and the possibility of
finding opportunities in the real estate market encourage many people to change
their house who until now did not consider it.

Are you thinking of buying a house in
Madrid, Barcelona, ​​Valencia or Seville? What type of home are you interested
in? Tell us your priorities and we will help you find an apartment adjusted to
your budget.

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