House prices in Spain will fall as a result of the urgent need to sell due to the coronavirus!

 

The prediction of the real estate agency Century 21 is falling house prices in the coming months.

Ricardo Sousa, CEO of Century 21 in Spain and Portugal, considers it highly likely that 'in view of the economic situation of the owners and investors certain people are urgently needed to make their own properties available for short-term sales to deal with the lack of liquidity.' Consequently, the company anticipates price declines in the coming months as a result of the Spanish coronavirus crisis.

For this period, Century 21 guarantees that the health and economic crisis is reflected in a failure to pay rents and sell real estate assets to recover the liquidity of firms and certain investors and in the sale of second homes. According to the CEO of Century 21, "this situation will attract liquidity investors who have access in a short-term discount to purchase assets."  properties in qatar

On the other hand, the company believes that international demand will be the sector most deprived of the property market, as not only are the remaining European and international markets experiencing a similar health crisis, but the Spanish market has also been closed borders.

Although it will be difficult for the second quarter, the US founded firm expects the sector situation to recover over the last quarter of the year and return to normal in early 2021. The company believes that, unlike other sectors, the real estate development business can temporarily suspend business, and then resume the pending sales and purchase procedures. Real estate development is by its very nature a company with a long cycle and therefore ready to withstand lower sales for cycles of between 3 and 6 months. That is why Ricardo Sousa expects it "Suspension of buying decisions but not cancelation of selling operations. At Century 21, we are convinced that the sector will be reactivated once this health crisis is over "There was a mistake.

Finally, the company highlights the good side of this crisis: teleworking and the promotion of digital tools. Sousa actually says that "There has been a notable increase in visits to the company's digital platforms, along with a significant increase in the number of users registered in the mobile app. This is a clear indicator that demand has stopped in time, but is expected to continue to overcome the crisis "There was a mistake.

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