July 12, 2020

The big developers celebrate a “spectacular” June in apartment sales



The rebound in sales of new construction housing in June, after the stoppage in April and May due to the state of alarm, has been so significant that the large promoters of housing in Spain speak of “record” figures and “spectacular” behavior , when there are still two days until the end of the month.

The evolution of the market remains to be seen once this “dammed demand” has been met, although brands such as Aedas Homes, Neinor, Vía Célere, Hábitat and Metrovacesa are confident that they will not have to lower prices, they explained this Monday in the El Economista real estate forum , where they have celebrated the signing of a pact for housing in the Community of Madrid.

The CEO of Aedas Homes, David Martínez, has pointed out that in recent weeks there has been a “very significant rebound” in demand, which is already approaching ‘precovid’ values ​​in terms of visits to points of sale and access to the web and information phones, and that the number of sales has also risen “a lot”, especially in large cities and less on the coast.

Noting that this confirms the existence of a dammed demand, he said that he hopes that when the situation stabilizes, sales rates similar to those before the pandemic can be recovered.

The CEO of Neinor Homes, Borja García-Egotxeaga, has agreed on the upturn in sales in June, but has expressed more doubts, given the “very discouraging” prospects for the Spanish economy, “he said,” and the sector’s exposure to unemployment. and poverty.

Convinced that the crisis is going to be fattened with the young and the most disadvantaged, he acknowledged that the figures “are not apocalyptic today”, but he insisted that there is “uncertainty”.

In the real estate sector, there is a broad consensus that second-hand housing prices can drop by up to 15% due to the coronavirus crisis, while new construction prices will resist better.

Along these lines, the CEO of Metrovacesa, Jorge Pérez de Leza, has affirmed that there will be promoters who have to lower the price somewhat, but that those present have a sufficient balance and liquidity position so as not to commit “desperate movements”.

In addition, it has taken for granted that the number of projects that will be put into operation this year will decrease, because they will all be “more cautious”, and argued that this will influence that there will be less supply and that they do not have to touch prices .

He also pointed out that after a good first quarter and a “dismal” month of April, May and June have doubled sales, despite which 2020 will be a difficult year, in which he does not doubt that they will sell less than planned and fewer works will be put into production.

For his part, the CEO of Vía Célere, José Ignacio Morales, stressed that there is still a “brutal demand in big cities” and has declared himself “surprised” by the high level of presales in June: “Not a single one has backed down, “he stressed.

José Carlos Saz, CEO of Habitat Real Estate, has argued that in confinement sales slowed down, but that they did not stop, because “it was sold remotely”, even this developer delivered a promotion in Valencia “without any problem” or cancellation.

“June has been spectacular. The month has not ended and it is the record month for sales in Habitat since 2018,” said this director, who in his case maintains the plan for this year “one hundred percent” and hopes to materialize some six or eight land purchase operations in the next few days.

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