3 January 2020 – Real estate investment in Spain ended the year of 2019 with a total investment volume of approximately €12 billion, a drop of 35% year-on-year, according to a study by Savills Aguirre Newman.
Despite the seemingly steep fall in investment, the firm noted that demand remains robust, with prices forecast to increase by 3% to 4% in the coming year.
Jaime Pascual-Sanchiz, the CEO of Savills Aguirre Newman, averred that the decline was largely concentrated in the market for existing homes. The executive expects the continued growth of new developments, though at a reduced pace. Construction has declined in some specific markets, such as Madrid, Valencia, Malaga and some of the islands, which had seen extraordinary levels of growth last year.
Original Story: Expansión / Europa Press
Translation/Summary: Richard D. Turner