The price of housing will continue to rise until the end of 2023, according to Caixabank
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- 06 Jan 2022
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The financial entity forecasts 2022 and 2023 with increases in the price of housing in Spain. Good financing conditions will be the key factor for this increase to occur, although it also qualifies that it will be sustained over time and moderate. In this sense, Caixabank believes that the price will stop growing towards the end of December 2023 , according to VozPópuli .
In its latest study, the bank also takes stock of the behavior of housing during the pandemic. Caixabank clarifies that the evolution of the price during the covid-19 has bordered the most optimistic forecasts that the company had for 2020 and 2021. In fact, the figures have been above the most optimistic scenario projected by the researchers of the financial institution.
Focusing on 2022, Caixabank considers that there will be an increase in prices of 4% year-on-year. The bank is also drawing the most pessimistic scenario, but even so, housing continues to show its strength by devaluing only 1% year-on-year. On the contrary, the most optimistic outlook draws a rise of 7%. This unfolds as follows: a real increase of 4.8% this year, to which it would be necessary to add 3% due to inflation, up to 7.8% in nominal terms
For 2023, the optimistic scenario and the bank's forecast are aligned on the basis of a sustained growth in house prices of another 4-3% year-on-year, while the pessimistic scenario warns of a possible drop of 6% year-on-year from September 2023 and 7% in December of that year.
"It is true that, in 2023, our forecast is close to the optimistic scenario. We maintain a fairly stable forecast in 2023," the Caixabank study bank told the newspaper. "Above all, we think that favorable financial conditions will continue to support the advance in house prices," they add. Read More...
