The real estate sector has been hard hit by the Covid-19 crisis, although its impact has not been the same in every sector. While some have emerged stronger, others are still suffering from the damage caused by the pandemic and are increasingly delaying their return to the levels recorded in 2019.
Many companies are having to review their strategies and business plans. Though most real estate entrepreneurs are optimistic about the current financial year, they do not expect the recovery to begin this year, according to the report Perspectives Spain 2021: Real Estate, carried out by KPMG together with CEOE.
Thus, 76% of Spanish real estate company executives surveyed believe sales will not return to pre-pandemic levels until 2022 and 2023. Half of those believe that the recovery will begin next year, while the other half believe it will be in 2023.
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