«THE IMPACT OF THE DANA ON THE VALENCIAN REAL ESTATE SECTOR»
The recent DANA (Isolated Depression at High Levels) in the Valencian Community has left a deep mark on the real estate sector in the region.
The College of Registrars of Spain has announced that the DANA has left a total of 134,418 affected properties in its wake throughout the country, resulting in a total of 54,312 hectares of affected area. They have also announced that work continues to locate damaged properties, so the figures may increase over the next few weeks.
The data provided has been collected and analyzed by the College’s Graphic Database Service through the Emergency Registry Portal (PRE), a tool that provides statistics on plots, properties, buildings or constructions damaged by natural disasters.
The real estate market is facing an unprecedented challenge, which, in the short term, could translate into a significant fluctuation in housing prices. Properties in affected areas could experience a temporary devaluation, while nearby areas considered safer could see an increase in demand and, consequently, in prices.
For its part, the Government is chaining aid for those affected by the DANA, among others, the most requested is a 6,000 Euro aid granted by the Generalitat Valenciana for people whose homes have been affected by the DANA, as announced by the Vice President and Councilor for Social Services, Equality and Housing, Susana Camarero.
The Generalitat has made 214 homes available for temporary relocation of those affected with “practically immediate availability.” Of these, 184 are located in a building in the district of La Torre, Valencia.
In addition, they have added that they have 30 homes that are being “adapted and adapted” in different municipalities to make available to the affected people, as well as another 75 additional homes “with medium-term availability,” in which they have started adaptation works “in case it is necessary to relocate people whose homes are being analyzed.”
Given this situation, the EIB also offers to accelerate the payment of up to 900 million to face the reconstruction of critical infrastructures after the DANA that has left more than 200 dead in the east and south of the country, most of them in the province of Valencia.
All this only leads us to wait for both the aid finally granted and the adaptation of this new market affected by the damage, in some cases irreparable, that the DANA has caused.
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