The Adevinta owned Spanish property portal Fotocasa has released a report which shows that renters were far more likely to look for a new place to live during lockdown. The report shows that 42% of all renters were looking for a new home during the period of lockdown in Spain which lasted from the 14th of March to the 21st of June. Interestingly, of those renters looking for a new home, 33% were searching on the sales market suggesting that the pandemic may have been the catalyst for many to take the plunge. The corresponding figure for owner-occupants was only 17%.
According to Fotocasa, the demographic profile of the average Spanish renter is younger than owners with 46% aged between 18 and 34 with a slightly lower socioeconomic level but a higher level of education. The report also posits that renters in Spain have been more adversely affected by the economic consequences of the pandemic than owners, a situation replicated across the Atlantic in the USA according to Zillow.