Property Buyers by SomRIE, the real estate network belonging to Personal Shoppers Inmobiliarios, and the first in Spain, has announced that 18 of their 20 offices have been contacted by private investors and companies. All interested in making the most of this crisis and investing in property.
Enric Jimenez, founder and CEO of the company, had a few words to say on the matter. “The excessive volatility of the stock exchange, the consensus that various forms of interest rates will maintain historic lows throughout the next few years, and the prediction of a U-turn out of this crisis in the next couple of years, is causing many savers and investors’ to bring down their magnifying glasses upon the real estate market.”
Investment in real estate would be an appropriate response to the current economic cycles, commented this expert:
“There will be falls in price caused by the degradation of the working market and, on the day we’re finally able to visit properties, we’ll find a greater offer still than the one existing before the propagation of the current situation. We predict the average fall will oscillate somewhere between 5% and 10%.”
What Types of Property Are Expected to Rise in Price?
According to analyses, the following three types of property will rise in cost within the next few months:
Homes with balconies, terraces, good views or gardens:
One of the major footprints confinement will leave behind, will be the necessity to reconsider our definition of a home. Is it a space in which we can really live? Today, it’s even harder than before the pandemic to sell a lower floor flat. Day to day the demand for homes with access to the outside grows.
Homes on the outskirts of cities, or even in provinces that differ from where people work:
Buyers preferences have completely changed in the last six months. “Many clients who had solicited a search for properties in the centres of the city, have had their interest turned the other way. Towards well-communicated neighbourhoods on the outskirts. Even showing interest in homes in provincial capitals farther away from their workplace. Where it’s possible to enjoy more space for less money,” confirmed Jimenez.
The company highlighted the fact that with so many working from home now, many professionals have shown interest in distancing their homes from their workplace. “I’m even inclined to think that in the short to mid-term, foreign professionals who value the Spanish climate and life-style might be tempted to move here.”
Well located apartments:
Following the shock the stock exchange has felt the last few weeks, many small investors are already searching for opportunities in real estate. Many are searching for a secure and stable investment. One in a good location that can provide a solid income with an apartment in the range of 40-50m2. “Returning to the original point, I believe many dark or badly designed properties will struggle to sell in the short to mid-term.” Added Jimenez.
Property Buyers already anticipate a wave of opportunities in the market. Not just for homes, but buildings and venues too. The hard part will be knowing which of all these properties will be at just the right price. “For this reason … We recommend to all interested in purchasing a home to seek professional advice.” Concluded Jimenez.