market Market News: Spanish Real Estate Intelligence

Calviño Asks for Another Week to Consider the Minimum Wage and Rent Suspension Measures
Over the last few days, progress has been made in the development of these two measures for rent suspension and the minimum wage, but not enough for them to be approved immediately. Aid for the payment of rents and the introduction of a minimum wage for the sectors hardest hit by the coronavirus crisis was not approved at the Cabinet Meeting on Tuesday. The debate between the factions of the coalition government will rage for another week. Over the last few days, it has been reported that progress has been made in the development of these two measures, but not enough for them to be approved immediately. The positions are still too far apart, according to El Confidencial. On Monday afternoon, a meeting was held to discuss the moratorium on rental payments, with proposals from the second vice-presidency led by Pablo Iglesias, and from the Ministry of Transport, Mobility and the Urban Agenda led by José Luis Ábalos. However, representatives from the economic (third) vice-presidency, led by Nadia Calviño, and from the Ministry of Finance, led by María Jesús Montero, asked for more time to study the proposals and design them in the best way possible.
European Real Estate Companies Expect the Sector to Recover in 12 Months
75% of the executives surveyed by Property EU expect the real estate sector to recover to its pre-Covid-19 levels within a year. Three out of four professionals in the European real estate sector predict that the market will return to its pre-coronavirus crisis level over the next year, according to a survey of 840 experts conducted by Property EU. 90% of the professionals consulted say they are working from home. Despite the slowdown on a global scale, professionals in the sector say that business has not come to a complete standstill. They estimate that investment in real estate is currently operating at 45% of its usual capacity. On a scale of one to ten, they rank their concern about their work and/or company as a 7.
Property Registrars Suspend the Expiry Dates of Register Entries
Procedures relating to the Mercantile and Movable Property Registries have also been suspended, although some of those relating to corporate life are covered by the Decree governing the state of emergency. The College of Registrars of Property, Mercantile and Movable Property of Spain has communicated in a statement that the expiry dates of register entries will be suspended for the duration of the state of emergency. The calculation of the periods will resume the day after this exceptional regime comes to an end. Specifically, the Property Registrars have explained that the expiry dates for filing entries, preventive annotations, legal notices, marginal notes and any other registry entries subject to cancellation due to the passage of time have been suspended.