Handicaps on the horizon
There are also certain handicaps we need to take into account... For example, in the rental market, the government is currently debating the merits of regulating rent through a price index, and while this approach now seems more distant (the State Housing Law is still under discussion), Catalonia, among other regions, is currently attempting something similar, albeit with negative results so far. For instance, in Madrid rental prices have dropped more and supply has increased more this year than in Barcelona even in the absence of such regulations; and in Berlin, after a whole year of applying a law similar to the Catalan one, the supply of rented housing has fallen by up to 25%.
It also bears repeating that the pandemic has wreaked absolute havoc on the Spanish labour and economic landscape. The number of companies that have closed, those that have downsized, the number of jobs destroyed, the loss of household purchasing power and the extreme difficulties faced by young people in finding a job are more than just temporary problems in our society and will certainly slow down and hinder the recovery.