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Property Developers Expect to Handover 20,500 New Homes Before 2021

In the three remaining months of the year, property developers expect to finish 20,551 homes in Spain, distributed across 1,061 developments, several of which will comprise hundreds of units.

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In 2019, 71,562 new homes were finished and approved, according to the Construction Statistics published by the Senior Council of the Colleges of Architects of Spain and the Construction Work statistics from the Ministry for Transport, Mobility and the Urban Agenda (Mitma).

That figure represented a year-on-year increase of 19.4% and the third consecutive annual rise (although it was the lowest increase since 2016). However, the almost 72,000 units approved were well below the volume reached during the years of the real estate boom (2004 to 2008) – when more than half a million free homes were completed -. Nevertheless, it was a clear sign of the reactivation of the construction sector and, as such, 100,000 units were expected to be completed in 2020.

Read the full article in Spanish.

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