Estate agents started operating with relative normality on 11 May, when visits to properties were allowed once more. Nevertheless, since then, “the market for sales operations in the residential real estate sector has only recovered by around 20-25%, which means there has been a drop in sales of 75%,” says Emiliano Bermúdez, Deputy Director General of DonPiso.
The network of estate agents estimates that fewer than 400,000 homes will be sold in 2020, down by 20-25% compared to 2019, when 501,000 operations were registered. This decline in operations “should flatten out from September, when the market is expected to start to recover, a trend that will be consolidated during the last quarter of the year,” says the manager.
Read the full article in Spanish.