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residential Market News: Spanish Real Estate Intelligence

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
 
Residential market: decline in transactions, more convenient mortgages
24 March, Italia Oggi Due to the coronavirus emergency, residential transactions reported a decline everywhere in Italy. In Lombardy, transactions in the first two months of 2020 decreased by 7% compared to the same period of the previous and are expected to decline even further in March according to Scenari Immobiliari. However, there is still a steady demand for houses, and the market might rebound in the second part of the year. While waiting for the market to recoup, central banks decided to act on interest rates in order to sustain the economy, making mortgages more convenient than ever. Source: Italia Oggi Translator: Cristina Ambrosi