The exogenous shock of the coronavirus in the residential real estate sector in Spain comes during very unstable times for the entire industry.  The report compares the current situation and that of 2008, and sets China as a benchmark to understand the sector’s likely performance throughout the crisis.  From the macro economical perspective, there are differences with the financial crisis of 2008 worth understanding, because they give us an insight into the extent of the damage that awaits the sector.