Luxury House Prices to Fall by 4% in Madrid and by 2.5% in the Rest of the World

5 May 2020 –

The experts at Knight Frank predict that the relaxation of travel and airline restrictions will be essential for the recovery of the prime property market, but they are not expected to return to their previous levels until 2021.

Mobility restrictions are affecting the price of luxury homes, which are expected to drop by 4% in Madrid and by 3% around the world, on average.

In an online presentation on Tuesday, several experts from the consulting firm Knight Frank shared their first forecasts about the impact of Covid-19 on the prime residential market in 20 globally important cities.

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Translation/Summary: Carmel Drake