translated from Spanish: Just two out of ten real estate companies conducted operations in May

According to a report by the Real Estate Observatory of the House of Real Estate Services Companies (Camesi), real estate companies across the country increased their movement in April, but only 20% made transactions in both rentals and buy-sells throughout May.” We are facing an unprecedented crisis in the market and believe that government measures are imposed that include a broad moratorium, access to soft loans and a strong presence and support of the state economically, financially and commercially,” explained the bank’s president, Alejandro Ginevra, adding: “80 percent of activity continues to be paralyzed as a result of restrictions imposed by the pand Covidemia 19. Partial opening of operations in some jurisdictions allowed for a slight uptick. However, eight out of ten real estate companies were unable to close any transactions.” In April, 9% of real estate companies completed rental operations and in May that number increased to 21%, a significant growth but not compared to normal work movements. In terms of buying and selling, in April only 7% had managed to carry out transactions, and in May that percentage increased to 18%. The report also indicates that six out of ten managed to meet their expenditures and almost 60% also recorded consultations for commercial premises in areas of large mass transit.

Original source in Spanish