Tuesday, November 24, 2020
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House Sales Will Fall By Up To 30% in 2020, With a Halt in the New Supply in 2021

According to Juan Antonio Gómez-Pintado, President of Asprima and CEO of Vía Ágora, bank financing is not having the best time. He believes that one of the "challenges for the sector is to seek new forms of financing".

Despite the recovery in residential sales and a lesser-than-expected impact on prices following the end of the full lockdown, the outlook for the real estate sector remains tough.

In this way, Consuelo Villanueva, Director of Institutions and Large Accounts at Sociedad de Tasación (ST), has said that house sales will fall this year by between 20-30% with respect to last year. Sources at Asprima do not forecast drops in new home prices but point out that building permits have fallen by 30-35% on average, which will result in a halt in activity in 2021 and 2022, and in a lower supply.

Read the full article in Spanish.

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