Before this crisis, we expected a return to the highest ever house prices of 2008 during 2025. Now, that goal will be delayed by between two and five years, according to the consultancy AIS Group.
House prices will take between two and seven years to recover the levels recorded in 2019 due to the impact of coronavirus, according to a report by the AIS Group. The consultancy has made these forecasts based on two possible scenarios: one expected, in line with an 8% drop in GDP, but with a rapid recovery; and another more pessimistic, based on a “slower” recovery.
In the scenario prior to the Covid-19 crisis, we expected the recovery of house prices to continue, after the falls of 2008 and 2013. However, AIS considers that the emergence of the coronavirus and the economic impact of the measures to contain the pandemic will make prices fall again.