The second residence market in our country could be undergoing encouragement after the COVID-19 health crisis. This is the conclusion that has been reached by experts on real estate, after having analyzed some residential market indicators, as for instance, the rise in the search for this type of properties as well as the increase in demand on the part of investors. In spite of the fact that the second residence market is one of the most affected as well as having sustained the most suffering in all our real estate system, experts see signs of improvement that have injected some optimism. The coronavirus crisis has changed some aspects in the way that, until now, we have conceived our home, because it has also become our working place. Currently, we all want, more than ever before, a house with a terrace and a garden. Experts believe that this shifting of interest on the part of potential homebuyers will have a direct repercussion on our real estate market and thus, second residences could benefit from this situation. Let us see why.

A SECOND RESIDENCE TO IMPROVE OUR QUALITY OF LIFE

The three long months of confinement which we have endured, have made many investors reconsider the possibility of purchasing a second residence to palliate the shortages of their current home. In point of fact, it is all about investing on a second residence in order to improve the quality of life. Many investors now consider that they could take advantage of a second residence and benefit from it, because they could work comfortably there as well as enjoy the peace and quiet that a secondary residence offers, away from the urban centre. According to some reports, during these last weeks there has been an increasing interest in second residences which, until recently, had little demand. Will this change of tendency be reflected on an increase in the sales of this kind of product? It is true that we are going through moments of great uncertainty. However, it is also true that in precisely this scenario many changes take place. The confinement we have endured, due to the coronavirus, has encouraged some movement in our real estate system. We must point out that the very fact that we can see an interest, at last, in the search for second residences, makes us be optimistic about the future of this kind of product, even though these expectations must be taken with some caution. 

ESCAPING FROM THE ROUTINE

According to Andimac, Asociación Nacional de Distribuidores de Cerámica y Materiales de Construcción, second residences in Spain are going to recover. Many of these properties which are not used very much due to their location in a rural environment, far from the habitual residence, will be revalued. In this regard, the confinement has helped to put in value what we already have or maybe even make us desire what we do not have: a place for leisure where we can break the routine and get some fresh air. Could we be looking at the revival of second residences? We do not know yet, but what we do know is that there is a renewed interest for this real estate product.