The health crisis is taking its toll on the time it takes to sell or rent a home in the Spanish capital, although some areas are resisting better than others, according to Brainsre.

It now takes 2.2 months on average to rent out an apartment in Barcelona, up from 1.5 months, according to Brainsre, however, the city still has one of the most liquid rental markets in the country.

The Covid-19 crisis has come at a time when the prices of commercial premises have not yet recovered from the previous recession, the consequences of which lasted for five years.

The Qatari group, which owns the Alicante-based construction company Ecisa, has given up half of its stake in exchange for shares in the listed real estate company.

The bank is planning to enter the market for non-performing loans as a buyer and is looking to invest €1 billion in the doubtful credit market.

The sale of the first two portfolios post-Covid in Spain reflects the fears of the international funds, which are making offers with average discounts of 20%.

International investment firms such as Fortress, Bain Capital and Bayview are opting to look for potential investments in southern European markets outside of Spain, putting operations such as the sale of NPL's in Santander and Sabadell on hold.