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Real Estate Investment Falls by €12 Billion Due to Covid

To date, 12 billion euros have not been invested in the Spanish real estate sector due to Covid, a figure that represents just over 1% of GDP. The office segment is the worst hit, according to Addmeet.

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In Spain, real estate investment has plummeted as a result of the health and economic crisis triggered by the coronavirus. Specifically, 12 billion euros have not been invested in the sector so far this year, a figure that represents just over 1% of GDP, according to data from Addmeet.com, a portal specialising in auctions and private online sales.

According to the firm, on the basis of the accumulated investment figures for the second and third quarters, a decrease of 71.5% is observed, since investment during this period in 2019 amounted to 16.8 billion euros but this year, the figure has amounted to just 4.8 billion euros, equivalent to 12 million euros less due to the ‘Covid effect’.

Read the full article in Spanish.

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