The social outburst, now in addition to the coronavirus crsis, has had a strong impact on the housing market.
On Tuesday, GFK Adimark released its quarterly report on the real estate market, revealing that in the first three months of the year, 3,471 units were marketed, a 42.2% drop compared to the previous quarter.
According to La Tercera, the decline is even stronger compared to the first quarter of last year, when the fall was 60.6%.
For new departments, a total of 2734 sales were totaled in the first quarter, 44.5% lower than the previous quarter and 63.7% lower compared to the first three months of 2019. In terms of houses, 737 units were marketed, with falls of 31.6% and 42.4% respectively.
On the other hand, the average value of the departments stood at 77.7 UF per square meter, compared to 77.5 UF in the previous quarter, while the houses rose from 61.5 to 63 UF per square meter.
On the outlook for the coming months, GfK Adimark’s Territorial Studies Manager Javier Varleta told La Tercera that «so far we see no signs that we think that an uptick in the sale of homes could come and we would not be facing a price war either, at least in the short term.»