It goes without saying that the Spanish Property Market – along with life in general – is in a state of unquantifiable ‘suspended animation’.
All real estate activity is on hold during the current Coronavirus crisis. There are far more important things to consider and do. Feeding our families, paying our bills and taking care of our neighbours and communities are vital.
Notaries are operating, but priority cases such as: bereavements, wills etc. are – quite rightly – taking precedence over house conveyance. It’s important to consider that there will be young families in the final stages of their property sale, purchase, or both, that are concerned their deposits will be lost if their contracts expire. They will have registered their children in new schools, their family with new doctors and have removal and storage facilities paid for and organised. In these cases, it’s right to assume that ‘second home’ purchases by overseas buyers will not be notarised before these local case situations.
Yes, there will be delays for overseas buyers, but I’m certain, those affected will be patient and understand the need to wait their turn.
If you have a property for sale, it’s impossible for your estate agent to conduct viewings due to the prevailing travel restrictions, but, after this awful situation is resolved, the buyers will return and your property will ultimately be viewed and sold.
There are many frustrated buyers out there who had planned, or had to cancel plans, to visit Spain and view their new dream home in the sun. We know they will only have shelved their plans at present. When the world returns to some kind of normality, I suspect they will pursue their dreams with even more tenacity.
For now at least, all we can do is get through this unprecedented situation, concentrating on taking care of each other, especially the older or less well in our community. This will bring out the best in us all. When all this is over, we will look back and think to ourselves: how lucky we are to be here in Spain and how fortunate we are to have such thoughtful and caring friends and family.
Please stay safe everyone and follow the advice and regulations.
Fuente Alamo Real Estate/Murcia Coast & Country
Tel 0034 968 598 173