The real estate sector withstands the coronavirus hurricane in spite of the great economic downturn, caused by the pandemic, in nearly every field. Many analysts have come to this conclusion after obtaining and verifying the data on the impact that the coronavirus has had in our country during these last few months. It is very important to point out that nearly all the markets of the the world, in varying degrees, have been undermined by the irruption of the coronavirus, and the Spanish residential market has not been and exception. It is obvious that real estate deals have suffered from the effects of this health crisis but on the other hand, it is also true that real estate has not been affected in the same way as other sectors. If we take into account the fact that there has hardly been an ERTE or ERE (Redundancy Plan), in the real estate sector, which has even had to reinvent itself, so that housing could continue its activity. Therefore, we are able to conclude that this sector has withstood, better than others, the coronavirus disaster. It is still early to be able to make forecasts over the long term, even though it is believed that in 2022 everything will come back to normal, at least regarding the real estate sector. However, nothing is certain and even though in our country housing awaits further investments, we have to live with the uncertainty of not knowing how long this situation will last for.

TWO VERY DIFFERENT CRISIS

It is important to be aware of the fact that this current crisis is very different from that of 2008 and hence, these two crisis should not be considered equal. Nowadays, our real estate sector has changed, and financial entities are especially careful and thorough in granting mortgages so as to avoid the consequences of the real estate bubble burst in 2008. We can say that our real estate system is, at present, more mature and therefore much sounder. This has been a determining factor for the endurance of the coronavirus curse. Nevertheless, it is clear that the increase in sales regarding the real estate sector has been sharply interrupted because of this health crisis, as could not have been otherwise. However, it is also clear that we must not regard it as a collapse, a disaster or any other gloomy situation which is, unfortunately, applicable to other sectors. As clear proof of this, we can mention housing prices; even though, in some cases, there has been a price adjustment, generally speaking, radical changes have not taken place and are not expected to do so in the future. All in all, analysts believe that there will be an economic recovery when we emerge from this health crisis, even though slower than desired. Thus, there should be no reason for alarm concerning the real estate sector.

RETURNING TO THE PATH OF GROWTH

The main and obsessive objective of the real estate sector is to recover, as soon as possible, its path of growth which had been constant, regarding Spanish housing, in the recent past. What seems really unquestionable is that Spanish real estate sector is solid and sound; this can be seen by the way in which it has responded to this unprecedented crisis. Let us see how it all develops and to what extent Spanish housing can grow again, a fact which is essential for our national economy in order to be reactivated once more.