Second-Hand House Sales will Fall by 47% in 2020, According to Notegés

27 April 2020 –

The consultancy firm expects 264,000 second-hand homes to be sold in 2020, which is 47% fewer than last year.

The Club Notegés network of real estate agents forecasts a 47% decrease in second-hand house sales this year, which would mean the sale of just 264,000 homes by the end of the year. In this context, José Luis Jimeno, Director General of the consultancy, predicts that there will be an increase in operations to 375,000 units in 2021, up by 42% compared to the forecast for 2020, but that figure would still be 25.04% lower than the actual sales registered in 2019.

The data shows that “if the lockdown is concluded before the end of May, then the sector will recover very slowly, with 30% of last year’s sales in June, 40% over the summer, 50% in September and 60% during the final quarter of the year ”.

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Translation/Summary: Carmel Drake