Savills Aguirre Newman reports that new home sales are increasing and accelerating their growth during 2020/2021, with total sales in the first quarter of 2021 reaching 12%. This is the highest figure for the last 6 years.
- At the regional level, Andalucía stands out with 93,588 units, which makes it the best-selling autonomous state in the country.
- Followed by Catalonia with an indicator of 74,564 units.
- Valencia, with 69,743 units, has strengthened its position in a more demographically dynamic market, thanks to the presence of some of the most popular tourist markets and a high level of activity in the capitals of various states.
- It is followed by the community of Madrid with 67040 units.
According to the international real estate consulting organization, almost 100% of new homes are sold with delivery. This is due to a number of factors, including the fact that these projects are primarily aimed at the middle class. Another factor is that the initial payment in houses under construction is gradual and cheaper than in old houses. In addition, the prices for these houses are still at an acceptable level for the buyer.
Demand from foreigners continues to be an important component, accounting for 14.7% of total sales. Moreover, 40% of the purchases are made by foreigners of this group who do not live in Spain.
New offer on the market
Savills Aguirre Newman believes that the market will recover in 2021, but will reach the level of 2019 only in 2022. Against this background, it is especially worth noting the main cities of the country, Madrid and Barcelona, since more houses were put into operation in 2020 than in 2019, in contrast to the shrinking resort housing market.
Sale price
According to a report by an international real estate consulting agency, sales prices in 2020 continued to grow at a faster pace than in 2019, and an increase of about 5% is expected in 2021. In Madrid, the Balearic Islands, Barcelona and Málaga, the combined growth was more than 20%. And in such provinces as Soria, Palencia, Teruel and Ciudad Real, prices continue to adjust