Unprecedented figures during a historic year. That is the summary of the results of the ten largest real estate companies listed on the Spanish Stock Exchange in 2020.
In just twelve months, the main companies in the sector, which operate development and rental activities (the Socimis), went from registering combined profits of more than 1.6 billion euros to accumulating total losses of more than 200 million euros. The reason for the important change was none other than the impact of Covid on the real estate sector. Although real estate was not the most affected sector, the service and tourism sectors bore that unwelcome honour, the unfolding economic crisis nevertheless left its mark on the results of real estate companies.
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