Property sales in Spain will grow by 5%

  • ISREproperty by ISREproperty
  • 2 years ago
Property in Spain

Property sales in Spain will grow by 5% this year on one condition!

If the rate of vaccination of the population in Spain will be high, and the number of new cases of coronavirus declines, residential property sales in 2021 will grow by 5%.

This forecast was made by the organization uniting real estate agents (APIS).

According to experts, in Spain there is an accumulated demand in the aggregate amount of about 30 billion euros from small investors and private clients. Their activity will directly depend on the implementation of the vaccination plan, realtors believe.

Jose Melendez Pineda, (director of the Center for Statistical Processes at the College of Registrars of Spain), emphasizes that in a favorable scenario, noticeable improvements in the real estate market will be noticeable as early as September. He recalled that by the end of 2020, 420 thousand transactions for the sale of housing were made. In 2021, you can count on a 5 percent increase in this indicator.

From another side, the Covid-19 vaccination drive in Spain is racing ahead. The 8.04 million administered in the first quarter of 2021. That’s according to data from the Spanish Health Ministry, published on Friday.

The immunization campaign began on December 27, 2020. Only a dozen people received a shot in the last four days of that month. Since then, the speed of the rollout has steadily increased. On April 30, a new record was set for the number of doses administered in one day – 504,823. This is the first time more than half a million shots have been injected in a single day.

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