Madrid and Barcelona are the leaders in Spain for new real estate developments in a market that is expectant and cautious about the evolution of the pandemic, according to a report by Sociedad de la Tasación. There is also a positive trend towards single-family housing with high sustainability standards.
The most striking conclusion is that prices have not fallen significantly beyond that of a normal economic cycle. They note a recovery of confidence in the sector, even though the few developments being carried out occur in large cities and their metropolitan areas.
Sociedad de la Tasación believes that the rise of teleworking has moved the demand for housing to the outskirts of cities. In addition to the trend towards single-family homes, they corroborate that home seekers are increasingly looking for sustainable properties, which leads to higher construction costs.
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