The 2020 crisis is already a reality. In just fifteen days both the global economy and the stock market have recorded some of the most critical figures in history, surpassing the crash of 1929, 1987 and most likely 2009.
The productive halt has meant that Spain has already entered what we know as a recession. Today, more and more people are wondering how to pay rent in the midst of the Coronavirus crisis.
What will be the impacts on the Spanish real estate sector? Will there be an aid to pay the rent during the coronavirus crisis?
ShBarcelona shares with you in this article the measures taken in this regard by the Spanish Government. Take note because they are important!
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On March 31, 2020 the Council of Ministers approved a range of extraordinary measures to clarify what will happen to those tenants who, affected by the economic consequences of coronavirus, cannot pay their rent.
The government hopes that, once this situation is over, the economic activity will normalize. In this sense, it is likely to see a huge explosion of consumption that will put back rents and demand on the table.
What will happen to prices? In recent years we have experienced a steady growth in the rental prices. We were in a situation where buying an apartment in Barcelona or any other city was proving more profitable because, it was more economical to have a mortgage than having to pay a rent.
Apartments for sale in Barcelona
The future is uncertain; thus, we need to keep an eye on the market to see how the situation evolves.
What do you think of the measures put in place by the government?
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Do theses measurements/eviction also apply to seasonal contracts /Holiday appartment ?
Am I protected when my contract is ending 10 June 2020 ?