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The Real Estate Portals Fear a 75% Drop in Mortgage Signings due to Coronavirus

The main real estate portals believe that the 6% rise in the number of mortgages does not reflect the annual trend, which will be defined by the effects of the coronavirus.

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The real estate portals have expressed their fear of a possible collapse in mortgage signings of up to 75% due to the crisis triggered by the spread of Covid-19, according to Europa Press.

This is the worst-case scenario for Idealista, which does not regard the data published on Thursday by the National Institute of Statistics (INE) as valid, since it does not reflect the impact of the current paralysis in economic activity. Although the firm does not foresee a return to market levels in the short-term, its Head of Research, Fernando Encinar, thinks that a “one-off rebound once the current situation has been resolved” is “likely”.

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