Residential real estate price forecast change in Italy 2020-2022

Italy's residential real estate market was expected to suffer from COVID-19 for the remaining months of 2020. According to calculations from a "base" scenario, house prices in the Mediterranean country are to decrease by 2.6 percent, with the "hard" scenario mentioning a potential decrease of up to four percent. The source believes the house price development is closely connected to how the economy in Italy will respond to coronavirus measures. It admits that consumer demands have changed since home quarantine (for example, a growing demand for houses with terraces or balconies), but the source states that prices will rely on whether people are still able to purchase property.