There is much uncertainty about how long the pandemic will last and how it will alter both the tourism and the housing market.
Temporary border closures and restrictions on mobility have affected international demand for both rental and property purchases. Another question will be whether this decline translates into lower prices.
The confinement produced by the coronavirus already affects tourist rentals, causing owners to opt for long-term rentals in these times of uncertainty.
Moreover, the pandemic has spread asymmetrically: while in Europe it seems to be subsiding, in countries like the United States or Brazil it is in full virulence. These different speeds will be one more factor making a global return to normal difficulty.
Issues such as the possible availability of a vaccine or effective treatment for COVID-19, possible resurgence and how the economy evolves in the “new normal” will also have to be taken into account.
