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.