Gonzalo Bernardos talks about housing prices in Spain, and everyone trembles: Spain is entering a recession.

At the ongoing General Council of Official Real Estate Agents in Spain, economic expert Gonzalo Bernardos participated in debates. The real estate market continues to feel the aftermath of the euro's rise and interest rates. According to Bernardos, the trend in the industry continues to decline, with housing sales expected to decrease by approximately15%, although they remain stable for now.

Financing conditions have already survived up to10 consecutive interest rate increases, and during the event Bernardos analyzed the real estate market situation and its obstacles: "Spain has entered a debt slump because citizens can pay less, although GDP from tourism has grown, and the economy has not fallen, as demand for housing does not depend on employment status, but is linked to the development of credit," explained a professor at the University of Barcelona.

This situation is due to the fact that "interest rates have risen, and banks are less inclined to issue mortgages." Bernardos also explained that mortgages are no longer issued for100%, but the limit is80% of the value, and only clients whose net monthly income exceeds three times the cost of the mortgage payment are eligible. In fact, this leads to a decrease in demand for mortgages among Spaniards, while the presence of foreigners is increasing in the cities of Barcelona and Madrid.

Bernardos, believing that debt reduction is relevant in Catalonia, said: "Imagine Catalonia being forgiven more debt than the rest of Spain.

Finally, the economist noted that if there is a debt reduction, it will be a reward for poor management: "We reward those who managed worse. And those who managed better are punished. It seems to me that if other regions are forgiven debt, it shows a privileged attitude towards Catalonia."