Spain: Owners of vacation homes look for alternatives (El Pais, 8 June 2020)

  • Tourist apartment raise residential offer by up to 19% (Original title: Los pisos turísticos elevan hasta un 19% la oferta de alquiler residencial)

  • By Jose Luis Aranda. Published in El Pais on 8 June 2020

  • Summary (translated via Google translate):

  • According to the industry estimates, some 200,000 apartments in Spain, usually rented out to tourists, might stay empty in the upcoming season, since the tourist demand has dropped due to the Covid-19 pandemic.

  • The apartment owners are now looking for alternative solutions, and there is a possibility that some of the apartments might return to a long-term rental market.

  • In the first 11 weeks of state of emergency in Spain (from March 16 to May 31), the Fotocasa portal has seen its rental ads increase by 19%. In Andalusia that peaked up to 99% and in three other communities (Extremadura, Navarra and Murcia) it exceeded 60%.

  • Keywords: Spain, Airbnb, short-term rentals, tourism, tourist rentals, long-term rentals, Covid-19

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