The property developers’ trade association, APCEspaña, has criticised the lack of dialogue and time allowed by the Government when ordering the cessation of building work, after it approved the Royal Decree-law to suspend all non-essential activities, including construction.
The national association, which has its own voice in the CEOE, said that it does not have “enough data at the moment to be able to carry out any analysis or assessment of the impact of the aforementioned measure on the sector”. In its opinion, the economic repercussions will obviously depend on how long the State of Emergency lasts for and, therefore, how long construction activity is suspended for.
In terms of supply, the property development/construction sector accounts for 6% of Spanish GDP and employed more than 1,284,000 workers at the end of 2019.
