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Gonzalo Bernardos: “The Housing Crisis is Going to Last and Will Be Felt in Central Neighbourhoods”

Rental prices will fall by 18% on average in Spain by the end of 2021, whilst in Barcelona and Madrid, the decline will be less pronounced due to the increase in supply from the conversion of tourist homes and the delay in sales.

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The Covid crisis is already having an impact on the Spanish real estate sector, albeit uneven across each segment. Moreover, those effects are expected to worsen and last for a while.

In this way, it is estimated that house prices will fall by 16% in Spain on average, whilst in Barcelona and Madrid, the decline will be 12% and 13%, respectively, according to the “Real Estate Market Report, News and Perspectives” prepared by Forcadell and the University of Barcelona.

Read the full article in Spanish.

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