Spain has been one of the hardest-hit countries in Europe by the Coronavirus. Drastic measures were taken from day one, facing the challenging fight against this invisible enemy and the country was placed in obligatory confinement overnight. Leaving your home became punishable by law. Its residents did not have the time to assimilate what had just happened. Six weeks in, the country is quickly approaching the sizzling hot summer season and the tourist industry is worried about their faith. After all, Spain is and will always remain a tourist magnet. Will Spain be open for tourism this summer?
Spain has always been a tourist magnet, attracting lovers of the sun and the beach, lovers of history, lovers of culture, foodies and families looking for a quality lifestyle. The summer season which usually begins at Easter for areas like the Costa del Sol has been halted by this sudden global threat known as COVID-19. The country went into lockdown paralysing its entire economy, including the tourism industry. Soon after, other European countries followed suit and before we knew it, the world was in lockdown. Seeing as the summer months are quickly approaching, many Europeans still dream of Spain’s beautiful beaches, delicious food and its wonderful lifestyle. Yet uncertainty reigns in the air as to whether or not this summer will be a sad pass or not. No one wants to miss out on Spain this summer, including the Spanish. 
Children allowed out after 6 weeks of confinement
It is still unclear what the immediate future holds for Spain at this point. The country is still in lockdown and there are speculations that this lockdown, due to end on the 26th of April, will be stretched to the 9th of May. The good news is that construction and other large industries have been able to go back to work since last week. A sure sign that real estate is one of the sectors, Spain values and is pushing forward despite these unprecedented conditions. The confusion lies in whether or not hotels, restaurants and bars will open for the summer. The high season for the tourism industry is just around the corner and the country is still, to date, under a highly restricted lockdown. 
Spain’s Balearic Islands 27th April 2019
Speculators anticipate that this summer will be different but still European tourists will flock to Spain’s sunny shores to escape as they do every summer. Now that Germany and other northern European countries are already taking steps towards resuming their economy and people are going back to work as normal, even if it means applying social distancing, many will want to take a break and escape to their paradise, Spain. The question is how will Spain receive them?
The newly appointed Minister of Labour and Social Economy, Yolanda Díaz Pérez, has stated a few days back, that Spain’s economic activity will resume in two phases. The second phase which includes the tourism industry, hotels, airlines, restaurants and bars will depend largely on the Coronavirus. She said: “The second phase will not be reinstated until we are sure that it is safe to do so.” “It may even be a question of staying closed until Christmas of this year,” she added. As you can well imagine that sent shockwaves across the country. 
Experts Forecast a 10% Drop in Spanish Property Prices
This is bad news of course, but speculators believe it could be relatively interesting for property owners and investors of real estate in Spain. People will want the sun and the sea regardless. If it means going to Spain and having to stay in an Airbnb, so be it. Whilst the hotel industry may be at risk of losing out on their summer income, many Spanish property owners, especially those on the Costa del Sol and other popular summer destinations in Spain, will be flooded with demand. COVID-19 may very well turn into a hugely profitable business for owners of property in Spain. Tourists won’t have a choice but to rent a home for their holidays.
What does that mean for investors and new buyers of Spanish property? Speculators believe there will be a significant price drop in the real estate market, making it a visible buyer’s market. Buyers will have the opportunity to get more for their money. What’s more, and if Díaz’s worst-case scenario is on point, people who buy soon, before the summer season, will get to cash in on high summer rental income as tourists compete to reserve a spot for their summer holidays. 
A Golden Opportunity for Investors
This situation, whilst not great for the usual tourism industry, may prove very lucrative for the Spanish real estate sector and especially Spanish property owners and investors. Airbnb may be looking at some very exciting times as Spanish property owners flock to their websites to promote their holiday homes under the Spanish sun. This will turn out to be an opportunist market. The only problem real estate investors will have is wishing they had bought more Spanish homes.
