COVID-19's impact on the Spanish real estate sector

The crisis caused by the so-called COVID-19 virus has led the Spanish Government to declare the state of alarm in the whole country through the publication of Royal Decree 463/2020 of 14 March ("RD 463/2020"), which has been followed by another a royal decree-law published on 17 March 2020 ("RDL 8/2020") implementing certain economic measures in order to confront this pandemic crisis.

According to RD 463/2020, the initial duration of the state of alarm will be 15 calendar days, calculated from March 14, but this term could be extended with the prior authorization of the Parliament.

Our Real Estate team in Madrid has analyzed RD 463/2020 and RDL 8/2020, paying special attention to the main terms and conditions set out in these state of alarm royal decrees which may have an impact on the Spanish real estate sector.

The memo is available here.

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