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CBRE: Home Sales to Grow by 5% in 2021

Home sales will increase by 5% this year to 500,000 transactions, while prices will rise by 1-2%.

After the 14.5% drop in the number of homes sales last year, due to the Covid-19 crisis and the paralysis of almost all activity for several months, home sales are expected to increase by 5% in 2021 to between 500,000 and 525,000 transactions, according to CBRE’s report Residential Market in Spain 2021.

Estimates are that the number of approvals for the construction of new builds will reach 75,000 to 85,000 this year, very similar to the level in 2019, according to the consultancy. Meanwhile, last year the number of housing completions grew by 10%, with more than 86,000 units completed, above the average for the previous seven years (61,000 units).

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