In March of last year, we were preparing our annual real estate report when we were surprised, like everyone else, by the pandemic. We paralyzed everything, we’ve been confined, and had to throw all our forecasts and annual business plan to the trash.
Then May came along, and although we thought it would be a lost year, they allowed us to return to the office, the phone rang again, little buy little. And since then, what has happened?
What do we expect in 2021?
Until the vaccine does its job, the number of foreign buyers will remain very limited. We hope after summer; circumstances will allow gradually increase the number of visitors.
The general desire to invest in quality of life (buying a home in our area) after the pandemic will increase, but we believe that the economic circumstances derived from this health crisis will not allow many to fulfill their desire in the short term.
We are likewise convinced that teleworking will make some europeans consider working from our area, where they can enjoy a quality of life they do not have in their home country. In any case, it will be a reduced, slow exodus that will most likely have an effect in the short term in the rental market and in the medium / long 2/3 years for sale.
Meanwhile, the prices of homes, especially second hand properties, will continue at least with moderate fall (between 10% and 20% from the prices of 2019) until health and economic circumstances allow the restoration of the business activity in the world, 2022/2023.
And What will we do?
If you are thinking of selling or renting your home in Puerto Banús or Marbella, we will be please to assist.
☎️ (+34) 951 30 75 67 – (+34) 676 423 220