New housing in Spain: how the market is developing after the pandemic and what experts expect

New housing in Spain: how the market is developing after the pandemic and what experts expect

The real estate sector has been transformed during the pandemic. New housing is no exception.

“New construction during the pandemic did not feel negatively affected. Except for the first three months of the state of emergency, when everything came to a standstill, the pace of construction and sales picked up again. This was especially true for properties with off-plan sales, ”says Vicenç Ramon, manager of RTV grupo inmobiliario.

Real estate expert Eduardo Mole thinks like this as well. As these properties weathered the pandemic remarkably in 2020, new-build apartment sales increased by more than 7% compared to 2019.

“And so far this year, sales of new buildings continue to grow, even exceeding sales of secondary houses. There is a very indicative figure - the number of visas issued, which, according to some sources, has grown by 20%.”

Habits and demands are changing among consumers who prefer newer houses that are open to the outside world, more spacious, with terraces and good views. “The restriction of freedom and teleworking indeed made us change and prompted many people to change their houses”, - Says Jesús Duque, Vice President of Alfa Inmobiliaria.

Vicenç Ramon also discusses these new requirements: the profile of the sold product and the area of most significant demand have changed. The sale of large houses on the outskirts of large cities is becoming increasingly important.

“In our particular case, it was more difficult to sell apartments located in Barcelona (usually small, without communal areas and large terraces), while the pace of sales in the Maresme districts (Teia, Llavaneres, Mataro, etc.) and the suburbs of Barcelona have grown significantly”,- he notes.

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