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CaixaBank Predicts a 40% Decrease in House Purchases Due to the Decline in Overseas Demand

CaixaBank Research warns of a drop of between 30% and 40% in house sales in 2020, driven in particular by a decrease in operations by foreigners.

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The Spanish real estate sector is facing a new crisis 12 years after the last crash, this time driven by the Covid crisis. The new challenge, which companies in the sector are heading into in a totally different position, will have a major impact on their businesses in 2020 as well as next year.

Those are the findings from the latest report prepared by CaixaBank Research, which predicts that although the real estate sector will not be one of the hardest hit by Covid-19, it will nevertheless be affected.

Read the full article in Spanish.

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