Home Purchases - Trends and Prices in Spain
After a very strange 2020, we can already here at the start of the year feel a faint optimism creeping up. It's so nice to hear from our customers who are still so active in finding the right home, and the first group has already been on a trip here in Spain to start the year of buying. Feels that there are many who are hungry for their new or current home in Spain.
BoligEkstra is regularly asked what we think the development in prices in Spain will be here in 2021. And of course as buyers - with a 'hope' in the question that it will be cheaper to buy.
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We would like to give a clear answer, but we all know that is not possible. There are only 2 parties in the world that can value the right price - namely the seller and buyer who agrees on a purchase price. It is and will be the right price in the 'now'. But I would really like to try to come up with a qualified bid based on trends and thus take a 'look' at the crystal ball for the development of house prices in Spain for 2021 ..
When I dare - it is also important to divide the housing market into two markets:
Development of trade in existing housing, (resale)
Development on new projects, (new developments)
The whole of Spain will be a very big mouthful to come up with a bid on, as 'location' as always is crucial to any pricing. So in this assessment, I stick to my belief in the evolution of the Sun Coast.
The latest available statistics are from the third quarter of 2020, so it might be a bit too early to draw conclusions based on statistical figures. I will come back to that as soon as I see the official figures for the whole of 2020.
But what exactly can we look at the price development here on the Sun Coast? Who is the Estate Expert in your area
Purchase of existing homes:
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| Bungalow Andalusia |
When we look in the databases for offered properties, there are no major price changes to be traced. There are several reasons for this. Some sellers are behind 2020 and are betting that the market will come back strongly after Brexit, which is why they do not want to regulate the offer price - especially not the sellers who have a good time.
Other sellers hope that the buyers will come down here and become so interested that they come up with a concrete bid so that the offer price can be 'tested' in a negotiation.
Our bid for price adjustments in 2021 is at present that we generally expect to see some optimism in offered prices. BUT, it's not black and white. There are also properties that are either so great that you will not get a discount.
Purchase of new project housing
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| New project in Malaga |
When we look at the supply of new projects, there is no corona time that has officially hit the prices yet. And then still a little… We experience that the provider in some respects is willing to discuss price reductions on options. But… we also experience that some of the providers have taken certain included options out of the project, and thus it looks like the buyer will get more in the bag at a negotiation?
Opportunity for good home purchases in 2024
There is no doubt that there will be good buys to make as a home buyer here on the Sun Coast in 2024. Whether you are looking for housing for investment, holiday home or new project. And in these times of negative interest rates in the bank, there may be a very good time to consider investing the free capital in a holiday home.
Do you plan to come to Spain this year
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If you are thinking of either buying or selling a home here in 2021, then contact a Spanish Home Extra partner who will be happy to talk to you about the opportunities and the current market here on the Sun Coast. Boligekstra is also happy to help with booking a hotel or holiday apartment, pick-up at the airport, etc. - or to take a walk around and look at the coast's many options. See evt. what is currently offered.
We know the coast, here on the Costa del Sol. There is a coastline of 120 km in Andelusia and there is a lot to choose from. This is where we start the journey with you, because when it comes to buying a home in Spain, it's about the three most important things about a home.
And that's location, location and location.