25 November 2020 – Analysts at Moody’s are predicting that housing prices will fall by 2% in 2021 in the southern European countries most dependent on tourism, including Portugal. The credit rating agency also expects prices in Europe to rise further this year, even in the face of the pandemic and the economic crisis, but to subsequently fall in 2021.
Moody’s forecasts were published in the firm’s latest analysis of the European real estate sector. Social housing and the need to protections for tenants will increase and demand in the suburbs will soar. The Covid-19 crisis will bring about a downturn in the economy and real estate will eventually give way, with a recovery expected in 2022.
Original Story: Jornal de Negócios – Rafaela Burd Relvas
Translation/Summary: Richard Turner