ea8

What does the future hold for us in Spain ?

- When may the quarantine be over ?
- When may the flights resume ?
- Will there be a (major) recession ?
- Will the house prices go down ?

missile

Will the sun shine tomorrow?

olivefarmer

Good question. My concern is the financial aspect. The EU agree that something must be done but not what.Sanchez has unsurprisingly nailed his colours to so called Corona virus bonds. Predictably the frugal northern EU countries aren't keen in paying for the South . They have 14 days to agree something before yet another crunch summit.

yes there will be a recession and my view is far worse than the one 10 years ago.,

yes house prices will drop. .

Quarantine? My view is that as Spain sees death rate reducing will want to manage the situation. Closed border to people including stranded nationals and habitual residents will be in place to stop re infection. The Chinese have just said they are closing their borders to to ingress.

flights? That is a big question. Will people have an Appetite for a foreign holiday to a country badly hit by the virus? Will they have the money? Will the airlines be financially able to run ?

Moses2013

As you say, it's clear that it will be worse than 10 years ago. Right now nobody can go on holidays and it's only just starting. Even when it's over, people from France, Germany and the UK won't have the money to think about holidays right now, so a whole season is basically gone. Many businesses in tourist areas just about manage to get through winter and now they have no income for months. The help packages available just mean that people will pay more taxes in the future.

chopera

The quarantine (if you are undergoing one) lasts for 14 days I believe. On the other hand I doubt the lockdown (in its current form) can last much longer than the currently scheduled 4 weeks. They might stretch it for a couple of weeks more but there's a limit to how much people will take. The numbers should start to come down in a week or two (although that depends on how many tests they carry out), and after that if the government doesn't start to relax restrictions people will start to ignore them.

No idea about flights, but I'd rather avoid getting on one anyway, unless I've already had Covid 19.

There is already a major recession in Europe right now. We just won't get the data to prove it for another 3 months (it requires 2 quarters of negative growth for a country to officially be in recession)

House prices will probably go down, as there'll be more motivated sellers and fewer motivated buyers. Not that it means much when it's impossible to buy or sell a house anyway.

breakfasttea

House prices projecting to drop 30% in U.K according to Times article and Sky News feature.

in regards to a vaccine, speaking to one of my clients who is a ceo őf a leading global Pharma company, he told me we are realistically looking at 18 months for a vaccine.

flights may resume but it depends on individual state conditions, if they’re still booming with outbreaks and deaths, they may block incoming flights naturally.

china reported a second wave of outbreaks last night, whilst they were feeling a plateau of cases and deaths.

18 months is the number even if we have successful human trials.

we also have the first 2 confirmed dog cases in China and now in Belgium a cat has tested positive for Corona.

https://apple.news/Ao2yq9gprPbWKt_xWyrx_QQ

https://www.brusselstimes.com/all-ne...ected-her-cat/

https://www.cnbc.com/2020/02/28/a-do...-confirms.html

https://www.marketwatch.com/story/se...ets-2020-03-20

missile

Can you give your source for that?

Google is my friend >
https://nypost.com/2020/03/27/first-...ed-in-belgium/
https://nypost.com/2020/03/19/second...r-coronavirus/

breakfasttea

https://www.brusselstimes.com/all-ne...ected-her-cat/

https://www.cnbc.com/2020/02/28/a-do...-confirms.html

https://www.marketwatch.com/story/se...ets-2020-03-20

bobd22

I would imagine the other worry for people will be those in the position of needing to obtain residency with the clock ticking. Also those trying to present S1s etc. I wonder when such things as these will normalise? I am currently stuck on my own here with all plans ferries etc in place to collect my wife in June to join me here and obtain residency. I don't see that happening now.

Woody7

I know its not high on anyone's agenda now but what of the situation for people like myself with a house in Spain?

We will all have to continue paying for these tax, electricity, water etc yet have no way to get to those houses to check on them or doing basic maintenance.

Foreigners have billions invested in Spanish property and the Government ignore us at there peril, Spain will be in enough of a financial mess when all this is over without foreign nationals defaulting on their mortgages or walking away from their Spanish houses.

I just cant see the Benidorm flights resuming this year but I hope the Spanish Government will see sense and allow home owners to visit their houses?

Might not happen of course, will just have to wait and see.

Anyone got any thoughts and please no sarcastic or negative comments.

Andy

EU.flag

Where does it says in your tax/utility bill that payments guaranties property access under any circumstances?
It is investment indeed and as such one can look after it or abandon it.
Thousands of people are dying every day, but your access is more important?

Also, what makes you think you have privileged entitlement to pick and chose comments? Blue blood?

chopera

If anything, as a second home owner you'll be viewed as someone who can afford to contribute a bit more to paying for all of this. Especially since second home owners have been given the blame by many for spreading the virus around Spain. That's the problem with property, it's very difficult to hide from the taxman. As for not being able to visit your holiday home, well I think just about everybody has had their holidays ruined this year. Most people here are just looking forward to being able to leave their homes for the first time in weeks.

Barriej

Im in that situation, well in fact slightly worse. We are still in the Uk with our lease on the flat we rent ending in June and the landlord wanting it back. (although as long as I pay the rent every month I don't think we can be evicted)
The ferry is booked (4th July), the van for moving our stuff is booked, Im retiring at the end of May. We have a car Ive paid for sitting in the car lot in Spain. If allowed to travel we would be moving to our own property in Spain. So I suppose in this case we could argue that its an essential journey. (but I'm not going to worry about that yet)

But these are small problems compared to the loss of life and the day to day issues faced by health workers.

So if we have to find somewhere else to live in the UK and postpone our move for a while then it will be what it is.
And if we miss the December deadline for residency then we will just have to jump through he 3rd country rules won't we!!
And if I end up need to take a Spanish driving test because we miss the deadline, again it is what it is....

bobd22

Yes it is what it is unfortunately. However I am sure it is a situation quite a number may end up in. The one plus point for myself is as I am legally resident even after the deadline I can claim my wife for residency purposes. We must wait and see whatever the outcome is. Many poor souls are losing their life so main priority at the moment is staying safe.

ea8

Were due to sign the house sale just a day before the State of Alarm, but due to the poorly written contract decided to hold on. Then the State of Alarm was annouced.

Interestingly, was chased for a few days by the agent literary pressing to complete the sale ASAP. Said NO ! Spoke to the agent this week. The agent is stil claiming that the prices in the Canary Island (we are there) will not go down.

We will see. Wife and most of people we talk to, including abogado on our side, say to expect the price drop.

Must stay safe first, of course.