As every year, Engel & Völkers publishes its Market Report for Spain and Andorra, in which it reviews trends and prices over the past year, as well as an estimate of what we can expect for 2021. It includes data on the Community from Madrid, Catalonia, the Valencian Community, Andalusia, Northern Spain, the Balearic Islands, the Canary Islands and Andorra.
Lock down measures and mobility restrictions as a result of the pandemic have caused a change in trend in the type of product in demand that will continue in 2021. The possibility of home office and being able to be further from the cities have placed peripheral areas and the saw in the sights of Engel & Völkers customers. The most exclusive areas around Madrid and Barcelona have experienced a strong increase in transactions. On the contrary, the interest for small apartments and homes without outdoor space (terrace, garden, solarium) decreases.
After a completely atypical year, 2021 will be a year of stable growth in prices for which we expect a 20% increase in sales figures, with a clearly upward trend from the second quarter.
"The pandemic has marked the course of the world economy in 2020 and will continue to do so in 2021, a challenging exercise for the real estate sector. The definitive boost in activity, expected for the second half of the year, will come from the hand of vaccines and the end of restrictions on the free movement and movement of travelers Recovering the international customer is the great challenge we face.
Meanwhile, Engel & Völkers will once again have the great allies that have allowed it to maintain contact with customers despite physical limitations: its innovative technological tools and impeccable personalized advice to respond in the fastest, most flexible and efficient market. Technological innovation, key in the commercialization of homes in 2020, is here to stay, as has teleworking. The demand has shifted towards single-family, semi-detached, semi-detached houses with wide spaces and open to the outside, boosting the metropolitan areas of the big cities. A change that coexists with the interest of buyers in large-area flats with terraces in the main capitals and second homes on the Mediterranean coast and in the north of the country. "Juan-Galo Macià, CEO of Engel & Völkers for Spain, Portugal and Andorra.
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