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Residential Rental Properties Suffer from the Impact of Covid-19 in the Major Capitals

The main consequences of the coronavirus on the rental segment have been a decrease in rents, the transfer of properties from tourist rentals to the traditional market and the non-payment of rents by tenants.

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The coronavirus has been key in confirming a trend that had been emerging in recent months. A decrease in rental prices with respect to previous years during which prices had been rising significantly, with increases exceeding 18% in many cases, especially in the large cities such as Madrid and Barcelona.

According to Toni Expósito, Director General of Comprarcasa, “the real estate sector is experiencing the full consequences of this crisis, which although is rooted in healthcare, has caused a major change in the direction of the sector. The rental segment is just one of the fields in which the changes have been more evident”.

Read the full article in Spanish.

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