Moody’s foresees a 2% decrease in home prices next year
Southern European countries with greater dependence on tourism, such as Portugal, will register a drop of around 2% in home prices next year, according to Moody's.
Home prices are expected to fall by around 2% in 2021 in Southern European countries with greater dependence on tourism, such as Portugal, according to an analysis by Moody’s agency, cited by Diário de Notícias and Jornal de Negócios.
The downward trend in home prices will be felt not only in Portugal but also in Spain, Italy and France, with the United Kingdom seeing the most pronounced drop while Germany is unlikely to feel the impact of the pandemic crisis on its housing market.
Moody’s analysts do not expect that lower home prices and households’ reduced ability to support loans due to the crisis will leave banks in difficulty.
