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Rents Will Fall by 20% This Summer on the Coasts of Alicante, the Canary Islands and Gerona

Prices have risen by 3% compared to the 750 euros per week on average that was charged in 2019 and longer stays are being requested in anticipation of a second outbreak or another lockdown.

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Covid-19 is causing uncertainty when it comes to finalising holiday plans this year. And, at the same time, it is changing the usual way we spend the summer. In many cases, stays are getting longer, holidaymakers are taking out 100% cancellation insurance and, in general, there is more volatility on both the supply and demand side, according to the latest report from Tecnitasa.

The report states that prices have risen by 3% compared to the 750 euros per week on average that was charged in 2019. Moreover, longer stays are being requested in anticipation of a second outbreak or another lockdown. José María Basañez, President of TecniTasa, explains that “many families who have apartments on the beach used to put their properties up for rent in July and August to obtain greater profitability. Now, they want to enjoy those properties themselves for most of the summer, so they are not putting them up for rent and the supply is smaller as a result”.

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