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Which is Covid Affecting More: New Build or Second-Hand Homes?

During the second quarter, the purchase of new-build homes fell by 41.1% in quarterly terms, whilst that of second-hand homes decreased by 39.6%. However, over the last 12 months, the decrease in second-hand home sales has been more marked (-42.49% vs -35.67%).

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The Spanish real estate sector is beginning to assimilate the consequences of the pandemic on its businesses. In this way, whilst Socimis are adjusting the values of their assets and their business forecasts, property developers are finding it hard to sell their homes with the health recommendations for people to not venture out.

What exactly has been the impact of Covid on the new home business? According to the latest data, corresponding to the second quarter of 2020, the sale of homes fell by 40% compared to the three months to March, according to data from the Registrars, with a slightly higher incidence in new build properties, which were down by 41.1% compared to 39.6% in the second-hand segment.

Read the full article in Spanish.

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