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2020 Special: What Was the Real Estate Sector Like Pre-Covid?

During the first quarter of 2020, two of the great trends that have marked this year were already emerging, namely, the boom in the logistics and build to rent sectors. But, at the time, no one had any idea how much the other segments would suffer.

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Residential

During 2019, 567,000 homes were sold, down by 3% YoY, according to statistics compiled by the notaries. In terms of mortgages, the number constituted over homes increased by 2.7% in 2019 compared to the previous year, to reach 357,720, the highest figure since 2011, according to the National Institute of Statistics (INE).

Originally, the ratings agency Moody’s forecast that house prices would continue to rise in 2020, albeit by no more than 4.2% (three tenths less than in 2019) as well as in 2021, when the increase was predicted to be 3.6%.

Read the full article in Spanish.

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