19 June, 2020
Evolution of Rental Criteria after Pandemic Lockdown
The evolution of rental criteria after the pandemic lockdown is now really important for real estate agencies. Rental properties in Barcelona were gravely affected as everyone’s summer was cancelled due to COVID-19. This global pandemic has affected every aspect of modern living, especially in large cities like Barcelona. Here at Casamona, we have felt the effects. We have also noticed how the demand has spiked in property searches with special qualities.
Social distancing has pushed potential tenants to seek out rental properties with outdoor space, balconies, and terraces, like many of our properties have, see here. As owners stress about their future tenants not being able to keep up with monthly payments, Casamona can help make sure to coordinate with them so we are able to find the right tenant for each owner.
Popular Flat with beautiful terrace in Barceloneta.
Are these types of properties going to be available ?
With the lockdown process progressively changing in most of Spain, owners are eager to rent their apartments out. In Casamona, we have been working weekly online, as Airbnb properties have now become short- and long-term options for future tenants.
Summer 2020 is the right time to rent out one of these highly sought out apartments. In fact, there is now a wider selection than before with interesting new prices.
Comfortable Penthouse in Sant Antoni
In a recent reportage on how Airbnb was impacted by the Covid-19 crisis, the online newsletter Cambio 16 stated the following about its market losses in Spain :
“A few months ago, Airbnb published a report on the economic impact that its business model leaves on the economies of the countries in which it operates”
“According to the platform, in Spain they have generated an economic impact of over 5.8 billion euros.”
What Forbes thinks about new property opportunities in Europe
Moreover, a recent Forbes article about Global Property Markets writer stated the following about new property opportunities in Europe :
“When Paris reopens, however, there will be a surge of new listings, creating a short-term softening and a buyer’s market window.
The writer, Kathleen Peddicord, also stated the following about Portugal’s real estate market pre-lockdown :
“Another European market that had been booming pre-pandemic is Lisbon.Values surpassed pre-2008 levels, and investors were finding Lisbon expensive”.
City views from an apartment in El Gotico
In conclusion, since the lockdown, the criteria for new rental properties have changed. Personal space is more sought after than ever, and most people are making this a priority when looking for a new apartment.
Rental properties are more abundant than ever and there is a lot of competition to find and lease them out. Reputable real estate agencies have to quickly adapt themselves to answer to this new rental criteria after the pandemic lockdown, while also keeping owners satisfied with the competitive price changes.