In its valuation reports, Sociedad de Tasación is going to warn about the state of shock that the market is in to justify why the value of real estate may be affected in the medium and long term. This is something that it already warned the sector about in London. Furthermore, the firm believes that the market will not normalise until the end of the year.
Today, the appraisal and valuations firm presented its ‘Trends in the Real Estate Sector’ report at an online press conference, at which it explained that the Real Estate Confidence Index closed the first quarter with 49.3 points out of 100. That represents its minimum level since 2015, revealing a deterioration in the real estate cycle before the outbreak of coronavirus. “This is an important fact, to see the starting point, so that we can assess the impact of coronavirus on the sector with data”, said Juan Fernández-Aceytuno, CEO of Sociedad de Tasación.