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Land: the Asset Most Harmed by Covid Since its Sales Will Fall by 40%, According to Servihabitat

According to Servihabitat, the slight forecast decrease in land prices "will help maintain interest in the development sector". Looking ahead to next year, prices are expected to remain stable.

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The new Land and Tertiary Market report, prepared by the Servihabitat Trends platform, reveals that the land and development sector can expect ‘consistency’ over the next few months due to its own stability and the low impact of the lockdown measures on construction.

Even so, it foresees that between 11,000 and 13,000 land operations will be closed this year, which would represent a decline of 40% compared to 2019. It also predicts that the impact of coronavirus on land prices will be low. This trend is in line with data provided by the notaries: in August, 7,730 other properties were sold (+ 18.1% year-on-year), of which 48.5% corresponded to land or plots. The average price per square metre of these transactions stood at 149 euros, down by 8.7%.

Read the full article in Spanish.

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