47% of Spaniards decide to look for a new home due to changes that occur in the family
- 17.4% of Spaniards search, rent or buy a new home to become independent from the family home .
- Almost half of searches for a home occur in parallel to family changes: with the birth of new children, after death, divorce or the independence of the youngest.
Madrid, July 30, 2018. - Century 21 Spain , the largest real estate intermediation network in the world, presents the "I Observatory of the Housing Market in Spain", an initiative that aims to shed light on the current situation of the housing sector in our country, and where trends are reflected, attitudes and opinions of both buyers and sellers and tenants and landlords regarding the characteristics of the housing and emotional factors that conll evan the change of home.
From the I Observatory of the Housing Market the different motivations that drive Spaniards to look for a new home to form their home have been analyzed. According to this study, 47% of these searches in the real estate market of a new home, whether to buy or rent, occur in parallel to the changes that occur in the family.
On the 17th, 4% of Spaniards carry out this process, driven by the need to become independent and live on their own, while 14.7% leave the home in search of a cohabitation as a couple. Both reasons are predominant in the age group of 18 to 29 years.
In addition, the increase of the family (9.9%) especially in the group of 40 to 49 years, the separation or divorce (3.3%) in the group of more than 50 years, and the decrease of members in the home (1.7%) equally among those over 50, are also some other reasons that encourage the Spanish to undertake the search for a new home.
Another of the predominant reasons, according to this I Observatory of Housing, is the need to move from being a mere tenant, to becoming the owner of a house ( 16.1%), in contrast to a 12.6% whose objective is to find a new home due to a series of job changes to be closer to work or to move it, and 9.4% want to move to an area that they consider better for various reasons, to establish their life. Only 2.7% buy a home as an investment, a reason highlighted by those over 50.
Ricardo Sousa, CEO of Century 21 for Spain and Portugal, comments: " According to the data provided by the study, all agents in the sector should focus on people and its needs and abandon the speculative logic that has characterized it until now. More than economic cycles are the changes in people's lives that generate the needs of the home - be it purchase, rent or sale. "
Author Article: Century 21 Spain
