The Sector Reacts to Coronavirus: What are Companies Planning?

23 March 2020 – Brainsre.news

The large property developers, shopping centre owners, rental home Socimis and real estate agents are all taking steps to alleviate the effects of the crisis.

The crisis resulting from the Covid-19 pandemic has led the Spanish real estate sector into an unheard-of scenario, which is raising many questions for professionals and consumers alike. For this reason, large companies have taken measures to reduce the impact on their respective accounts and to try to continue generating business at a very unusual time.

From large property developers to residential and retail landlords, to real estate agents. All of them have launched different solutions to combat the coronavirus crisis during the first week of the state of emergency.

Several property developers have deferred the next two monthly collections from their clients; shopping centre owners are considering waiving the rental payments of some of their tenants; some of the large residential landlords have established moratoriums on their rental collections; and a couple of estate agents have launched platforms to enable virtual property viewings.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake

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