Major Costa Blanca property builder says new home sales in Spain are better in 2021 than predicted

THE Costa Blanca-based, TM Real Estate group, says this year’s property sales are going better than expected in the wake of the coronavirus pandemic.

TM CEO, Pablo Serna, said: “First quarter sales for 2021 have maintained a stable positive trend, and then between April and June, we sold more than we predicted, accounting for 65% of our target for the whole year.”

The firm, with headquarters in Torrevieja, says they plan to build over 3,000 properties in tourist areas of Spain over the next two years.

Turnover fell by 8% last year to €161 million due to the pandemic, but TM still made a €24 million profit, an 11% drop on the 2019 total.

The constructor said that 1,138 homes were built last year, with the Costa Blanca region accounting for 68% of them.

Projects like Flamenca Village on the Orihuela Costa and Sunset Hills in Benidorm were started in 2020.

The company predicts a turnover of over €200 million this year, as property sales recover fuelled by foreign buyers.

Pablo Serna commented: “We view 2021 with a lot of optimism, but also as a year of transition. Besides getting figures back to pre-crisis levels, we will be improving customer service by opening offices in key European markets’.

The planned offices will be in Belgium, Germany, Poland, and Sweden.

READ MORE SPANISH PROPERTY SALES BOUNCE BACK AFTER LAST YEAR’S PANDEMIC LOCKDOWN