The confinement caused by the coronavirus is responsible for a new housing model which did not exist before. In Spain, there has always been a great deal of interest in living in the centre of a great city where it is easy to have access to leisure activities as well as to all the services that a large city may offer. Let´s say that until now, the housing model that investors looked for was usually well located in the city centre so as to be able to enjoy all the advantages that are found there.

One year ago, teleworking was hardly in existence and the time that people spent at home was much less than now. Nonetheless, the irruption of the coronavirus has changed the reality of the world and in our country the habits of thousands of Spanish people have turned around 180 degrees. Currently, we spend most of our time at home, and we have to get used to this reality until we can face this pandemic with more effective ways. As regards the real estate sector, a change of trend has not taken place because investors are still interested in the centre of great cities. However, at present, homebuyers are considering new options. Some months ago, it would have been inconceivable for many of them to live far from large cities as they had their jobs there. Nevertheless, teleworking has opened a wider range of possibilities which previously did not exist. Let´s take a look at this.

INTEREST IN THE SPANISH INTERIOR

Many Spanish people who are nowadays buying a house in coronavirus times are setting their targets on areas which were hardly in demand months ago. The Professional Association of Property Registrars has observed that, this summer, some regions went through an important increase; such is the case of Extremadura (with a rise of nearly 50% in contracts of sale), Asturias (with more than 10%) or Cantabria (with an increase of 5,7%). On the contrary, places like Madrid or Catalonia, which have always been at the head of all demands, have suffered considerable regression. The Association of Property Registrars stresses the fact that it is still  too soon to consider a change of trend because we will have to see what happens when this health crisis ends. Nonetheless, they emphasize the existing interest of the homebuyer in areas of the Spanish interior which previously had hardly had any demand whatsoever. Likewise, the type of property that homebuyers are currently looking for are more spacious and classical style. This has become a new housing model in our real estate system. In addition, the importance of communal areas has grown as well as having a swimming pool or a garden. These homebuyers are thinking about small towns or even villages as a valid life choice, a fact that before the coming of teleworking could not have been considered.

AN OPPORTUNITY FOR OTHER AREAS

Paradoxical as it may be, even something terrible like the coronavirus, has an optimistic side. As regards the real estate sector, this new housing model we have talked about has meant a breath of fresh air for many areas of the interior of Spain. We have noticed this in the significant rise of sale contracts in Extremadura during this summer. The coronavirus has changed the concept and understanding of our homes, as we have just stated, and teleworking has been the springboard to achieve this change. Thanks to all this, other areas in Spain are having a chance and it is already being reflected in the transactions. Many young couples are finding the access to housing in areas away from large urban centres. It now remains to be seen what will happen in the future and if this way of working, without having to go to an office, will continue to be possible once everything has gone back to normal.