Why to sell your Spanish property now!
For those who own property in Spain and are considering selling, the eternal question remains: is it a good time to sell Spanish property? In the last year and the current economic climate (2022/2023), estate agents in Spain are urging homeowners who are thinking of selling their properties that now is a good time to do so.
According to the General Council of Official Associations of Real Estate Agents of Spain, the interest rate rises applied by the European Central Bank and those that are still to come will cause a fall in house prices as well as a decrease in the purchasing power of potential buyers and a tightening of financing conditions.
"Any homeowner with property in Spain who wants to sell should take advantage of the moment," state the experts, adding that "in this new scenario, mortgages are more expensive for both the individual and the investor, but it is the individual on whom this rise is going to have the greatest impact. The fall in house prices predicted by the ECB (around 9% in two years) is logical because there will be a part of the demand that will disappear from the market and, with the same supply, prices will fall".
The General Council also believes that some buyers are going to try to bring forward purchases to avoid future rises in both house prices and mortgages. However, there will also be another profile of individuals or investors who can afford to wait and decide to operate in the long term, once the macroeconomic environment has stabilised and access to financing is less costly.
In its concluding thoughts, the Council also stresses that "in the coming months a window of opportunity will open up due to the generalised fall in prices that will benefit investors who have liquidity and can afford to wait for the right moment to buy".
Reasons why to Sell Your Property now:
- A number of factors have converged to make right now a great time to sell your property. While spring is always a popular time for buyers, the activity this year has soared meaning demand is sky high.
- The sale of the housing market is at its peak. As a result, your ROI (Return On Investment) will be better than ever.
- The demand for houses is sky high. Take advantage of this before the current market value of your home drops.