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House Prices Will Rise by up to 4.2% in 2021 and Rentals by 5.8%

Large cities and coastal areas will be the hardest hit this year, with decreases of between 14.8% and 17.1%, but prices will rise by up to 5.1% in 2021.

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Following the coronavirus crisis, which has caused double-digit falls in property sales and prices due to a slowdown in demand and the need for liquidity, 2021 is expected to bring increases of up to 4% in sales prices and of almost 6% in rental prices. The coast and the large cities will be the areas that suffer the most this year, but also the areas that will lead the recovery next year.

Following a projected decline in GDP in the order of 10% this year, 2021 will start the path to recovery. Something similar will happen with the value of properties. Homes will go from losing between 11.3% and 14.5% of their value this year to becoming between 2.3% and 4.2% more expensive in 2021, according to forecasts set out in the report The Pulse of the Real Estate Market from UrbanData Analytics (uDA).

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