Nvoga showed its innovative thinking when the company hosted the first webinar of the Costa del Sol property sector in April.Lead by the company’s founder and CEO, José Carlos León, the event brought together leading industry professionals in the form of property developers, constructors, architects, lawyers, financial experts, marketers and bankers to discuss the current situation created by the Covid-19 crisis.
Marbella, 8th April 2020. José Carlos León, CEO of Nvoga Marbella Realty started a live chat at 11.00 am among the professionals of the real estate sector in Marbella, to know the point of view of each one of them in these moments of uncertainty. Once again, not only the property sector and the Costa del Sol, but the entire world, is experiencing a period of uncertainty as large sections of it are in enforced lockdown in an effort to overcome this unexpected health threat. The economic implications will be profound everywhere, and José Carlos León discussed the situation with:
Juan José González (President of CIT Marbella), Tomás Gasset (CEO URBANIA INTERNATIONAL, promoter), José Manuel Zorrilla (WINDUP, agency specialized in digital MK), Rodolfo Amieva (Estudio de Arquitectura GONZALEZ & JACOBSON), Bonifacio Solis (CEO Constructora B. SOLIS), Miguel Manzanares (MANZANARES ABOGADOS) Charly Simon (CHARLY SIMON PHOTO), Emma Polo (Director of the Marbella OP BANCO SANTANDER), Bernard Fay (UHY FAY & CO, a firm of multidisciplinary professional services, consultancy and advice)
Effects of the crisis on the real estate sector and how it is expected to recover
Looking at how the crisis has affected the local Marbella market up to the present moment and how it is likely to recover in the mid to longer term, the business professionals used previous economic crises as a point of reference. Overall, the tone was upbeat, as this is seen not as a classic economic recession or financial crisis, but an unexpected global situation that will prompt strong recovery for those businesses, professionals and even sectors and countries that use the opportunity to adapt, modernise and reinvent the way they do things. Put differently, the present situation is a catalyst for accelerating change that was underway in any case, and those who embrace it will not only survive the crisis but be able to build upon new foundations.
For many there will therefore be a new beginning, but of course there are immediate challenges to overcome first, and representatives from the tourist sector indicated that due to the international travel restrictions that will limit foreign tourism to Spain this summer, the main drive will be focused upon the national market, and it will have to be specially adapted to the current conditions. In this way, the tourist season of 2020 will serve as a period of survival that will help to safeguard the industry once restrictions are lifted and things gradually return to normal.
Highlights and conclusions of the webinar
During the talk, the professionals on the panel analysed how the crisis is affecting their companies so far and how the recovery is expected in the medium or long term. Likewise, a comparison was made with previous financial crises that affected the real estate sector.
Most of the responses have been positive; it is time to reinvent ourselves, to look for new formulas and alternatives.
Those involved agree that support measures are needed from the authorities, facilities in the lines of credit and above all a reduction in taxes or a change in the regulation of property taxes in Andalusia, which make other regions or countries more attractive for tax investors.
The tourism sector points out that the tourism that should arrive this summer will be the National, in view of the uncertainty of the exit of the crisis of other countries that are also being affected, as it is the case of United Kingdom, and of the doubt in the reactivation of flights in the next months and that the government allows the entry to tourists of affected countries.
More than four hundred viewers have followed the talk live and have intervened with messages and questions, and more than a thousand people have seen the talk that is available on the youtube channel of the real estate agency NVOGA.
Connection with the Costa del Sol Hospital
At the end of the symposium, we connected live with the Hospital Costa del Sol, with Rafael Barrios, head of nursing in the area of Urology and Nephrology, which has now become a COVID plant, informing us of the current situation regarding the patients affected, the reorganization in the hospital to attend the various emergencies that have been attended, differentiating now two entries of emergency (respiratory and non-respiratory), the work of health personnel and the management of the Hospital that is being impeccable, which will begin to submit to the protocol of detection test of the disease and above all, although being cautious, sharing positive news regarding the number of daily cases of contagion of the disease and patients discharged. Mention was also made of the extension of the Costa del Sol Hospital, a project that has been paralysed for so many years and which we citizens now miss so much.
The conference ended with José Carlos León thanking all the colleagues and professionals in the real estate sector for their dedication and work, and all the spectators for their interest, comments and questions, and wishing that this situation would end as soon as possible and that we could meet again in person.