How’s the Spanish real estate sector progressing.
The Spanish real estate market has been a faltering area, it has even seen itself endanger itself in the face of the Covid-19 crisis. The initial instability and uncertainty put most of the transactions and investments both national and international in time. Once the state of alarm had passed, normality returned with caution, operations were reactivated and the real estate sector in Spain shows real signs of recovery, approaching pre-crisis levels step by step.
According to the latest data shared by CBRE, their results demonstrate a V-shaped recovery within the Spanish real estate sector. The greatest increase occurred between the months of May to June. And despite the stabilization in July and August, the positive sentiment of the advance of the national real estate continues early or in ‘U’.
Why is the real estate sector in Spain evolving favorably?
According to various indicators, the real estate sector in Spain is returning to its position at the beginning of 2020. Starting with the undeniable fact of the increase in demand. This has been increasing progressively until reaching highs that exceeded last year’s figures in the same summer months.
Next, it is worth highlighting the increase in influx in shopping centers and main commercial streets, in crescendo since May and stabilizing in July and August. However, in these two months they have reached figures that are close to pre-pandemic levels.
Closely related to the above, affilitation to Social Security shows that the pulse has been charging again, it shows a slight positive trend after the massive losses in March and April.
Above all, being a sector that is much more consolidated than twelve years ago, it will lead the recovery by having ability to generate employment and income. However, they are committed to a new model of public-private collaboration that will finish lifting the market. And institutions are asked for flexibility, greater speed in granting licenses and measures that contribute to access to housing.
Darya Homes’ vision of the real estate market
Darya Homes’ vision of the real estate market After months of uncertainty, in which we at Darya Homes have not stopped working, we adapt to the new needs of our clients. We created a live chat via WhatsApp to respond even more quickly to requests and we began to make virtual tours and visits of our promotions. In parallel, we were always on the side of those who needed it and our way of helping was to forgive the rent of the commercial premises and delay the payment of fees to owners until June.
On the reverse side, we have not stopped one of our projects, always trusting in the good state of the real estate sector in Spain. We made progress in our properties on the Costa del Sol, we entered the Barcelona market with L’Atmosfera, and we consolidated ourselves in Madrid with Almagro Residences, our most prime bet in the capital.
More than evident examples of the continued reliance on the real estate sector in Spain, more specifically in the residential sector, which is presenting itself as a safe haven during a worldwide crisis derived from health and other non-economic reasons.