Posted: Wed Sep 16, 2020 11:49am
1. Covid-19 has torn the rental market to shreds. But, let's not stop at Covid. The recession that started in 2008 also jolted the rental market backwards. There was some recovery to 2019 but people who bought for investment probably made little 2008 - 2019. They needed the Covid situation like I need a wet and cold winter.
2. 2020 and short term rentals effectively failed and those of us with conscience fully returned all deposits and had idle property. ,Short Term (1,2,3,4 week terms) rentals became scarce and drove many into the long term rental market. Whether this decreased rental prices or not I don't know, but I reckon there was no increase.
3. The Brexit situation has brought many Brits to Spain earlier than planned and perhaps this alone kept some long term rental prices buoyant. I reckon this is temporary. How temporary? - is the question.
4. 2021:- Anybody's guess what will happen to property prices and rentals. But, if I were renting property at the moment, I'd take any form of profit that's going.
5.2022:- I was in church on Sunday and prayed that there will be some sort of recovery in 2022.
6. If I were to offer one bit of advice to anybody thinking of buying property in Spain that would be:- Buy for investment purposes only.