The data was compiled by CBRE España’s Data Science and Research team and shows that the recovery of the Spanish real estate market was such that by the end of August this «super-indicator, which aggregates the measurements of thirteen variables», established at +43 points the recovery of this market, revealed the consultant.
Despite being now «closer to reaching pre-COVID-19 levels», there is still a long way to go. The real estate market’s performance between January and August shows a «clear V-shaped recovery trend, with a strong increase between May and June, although this rising trend has decelerated in the last two months, which indicates that it is still far from the pre-COVID-19 levels».
For Jaume Masip, director of Data Science at CBRE España, «the moderation in terms of recovery during July and August can be explained mainly by the sporadic decrease in terms of market sentiment and by the stagnation of the tourism segment, both affected by the recent growth in terms of infected and the implementation of new restrictions».
Despite recognising that the market’s performance is dependent of the pandemic’s evolution on the short term, Jaume Masip believes that in the coming months the Spanish real estate market will continue its V-shaped recovery.