The Covid-19 crisis has led to a sharp increase in the supply of rental homes on the market, not only in Spain, but also in several other major cities in Southern Europe. Madrid, Barcelona, Milan, Rome, Porto, Lisbon and Athens have seen the release of 185,289 new properties for rent on their main real estate portals, according to data from the Brains RE real estate big data platform.
In the case of Spain, the Government decreed the start of lockdown, due to the rapid spread of Covid-19 across the country, on 14 March. That triggered a long period of uncertainty in every economic sector, including real estate, due to the high degree of unknowns. And that led to a sharp increase in the supply of rental homes in the main Spanish cities, as well as in other cities across Southern Europe.
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