Los efectos de la pandemia del coronavirus se van a dejar notar en todos los ámbitos económicos y en la vivienda no va a ser menos. However, real estate experts -from an analysis of flats.com and hipotecas.com- they believe that this extraordinary situation will not cause a collapse in prices as seen in 2009, although cuts that could go between the 6,5% and the 13,5% during the first months after confinement.
The director of Estudios de piso.com, Ferran Font, considers that after this correction scenario the situation will return to the stabilization and descent trend from which we came in 2019. By zones, experts calculate that large cities such as Madrid or Barcelona will notice less impact from these drops, while in rural regions with less industry or in those closely linked to tourism, falls will be more evident.
In the eyes of Font, the part of the demand that has previous savings will be able to find good opportunities to buy. Ruth Armesto is pronounced in the same line, managing director de hipotecas.com, Believing that now is a good time to search for opportunities.
February closes the period of real estate stability and now what?
“The European monetary authority will keep the low rate policy longer to stimulate the economy, so it will be a good time for the home buying investor. Euribor is not expected to rise, If not the opposite. In this sense, Nor is it expected in the short term that the conditions of the banks will vary”, points out Armesto.
What about the rent?
In the rental segment, from both real estate portals ensure that prices have not dropped, but its growth has been moderating especially for months, especially in large capitals that have been the spearhead of the price recovery, and in those markets with a very important tension in rental prices such as Barcelona and Madrid.
“These markets are already growing very little, near to 1% in Barcelona and below the 4% in the Spanish capital”, indicate and add that “the forecast is that this moderation will accelerate and rental prices may drop slightly in the short term”.
For the end of the year, From flats.com two different scenarios are drawn depending on how the health crisis in Spain progresses: if the post-confinement market recovery is rapid, the total volume of real estate operations will be around 450.000 in 2020, which would suppose a fall of the 10% regarding 500.000 that were expected for this year. If recovery were slower, the registered operations would be 400.000, a 20% less.
[Source: The Economist]