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Bankinter Increases its Forecast for the Impact of Coronavirus on House Prices to -9%

Analysts at the financial institution now expect the virus to have a greater impact on the Spanish economy and employment, which will lead to a drop in house prices, especially in large cities.

Bankinter has revised down its forecast evolution of house prices; it now expects prices to drop by 9% in total between 2020 and 2021.

“We anticipate that the virus will have a greater impact on the Spanish economy and, specifically, on employment. For this reason, we have lowered our forecasts for house prices. We now predict that Covid-19 will have a cumulative impact of more than -9% (vs. -6% previously), which will be distributed between 2020 and 2021 (-4% and -5% respectively)”, explain analysts from the bank in a sector report.

Read the full article in Spanish.

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