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residential Market News: Spanish Real Estate Intelligence

Sardinia: the effects of Coronavirus on property sales
07 April, Gallura Oggi According to Nomisma, in Sardinia, and more specifically in the region of Gallura, there will be a loss between 9 and 22 billion in euro in residential property sales this year, with transactions down by 50-120 thousand compared to the forecasted 650 thousand. The reduction in the transaction volume will likely cause prices to decrease further. Source: Gallura Oggi Translator: Cristina Ambrosi
Tecnocasa: prices of residential properties are expected to decrease further
30 March, Il Sole 24 Ore All the experts agree that coronavirus will heavily impact residential transactions. Tecnocasa forecasts a further decrease in price trends. Investments in holiday homes will likely reduce, although they might be repurposed as traditionally rented properties. The overall uncertainty of the economy prevents households from making important investments such as buying a house. For this reason, banks will have a crucial role by issuing credit once the pandemic is over. Source: Il Sole 24 Ore Translator: Cristina Ambrosi
Nomisma: residential market down by 118thousand transactions in 2020
25 March, Il Sole 24 Ore Nomisma forecasts that the impact of coronavirus on the Italian real estate market will last for several months, resulting in a further decline in prices. The context before the pandemic was already fragile, although the weak demand was balanced by the investment component. Concerning the future, incentives to the demand and investments from banks and The Government will be vital. According to an optimistic outlook, there might be a reduction in residential transactions equal to 50thousand, or 118thousand in the worst-case scenario. Prices will likely decrease by 1.3%-1.4% in 2020-2021. Source: Il Sole 24 Ore Translator: Cristina Ambrosi