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This is How Covid Will Affect the Housing Market

House prices will have an average discount of 6.1% and the normalisation of the market will be postponed until 2023, according to the 24th edition of RR de Acuña's Statistical Yearbook for 2020.

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The impact of Covid-19 on real estate activity will be “very pronounced in the short term, affecting housing prices and demand, although uncertainty still persists around the intensity and duration of the decrease,” according to the consulting firm RR Acuña.

With this outlook, the firm predicts that the housing market will experience falls this year not seen since the burst of the real estate bubble. Moreover, according to its forecasts, the housing market will not return to an upward path until 2023.

Read the full article in Spanish.

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