The average sale price of a house is 69% above the average budget that is willing to spend
- The average investment planned for the purchase is € 166,000, while the average price of homes for sale is € 241,145.
- Los Spaniards look for their new home in the periphery of the city and in a second-hand apartment that does not need reform.
- There are half-size houses, with three bedrooms and two bathrooms.
- Women lead the residential market in buying and selling in Spain
Madrid, June 19, 2018. - Century 21 Spain , the largest real estate brokerage network in the world, presents the "I Observatory of the Housing Market in Spain", an initiative that aims to give light to the current situation of the housing sector in our or country, and where the trends, attitudes and opinions of both buyers and sellers as well as tenants and landlords are reflected with respect to the characteristics of the houses and the emotional factors that entail the change of home.
Since the I Observatory of the Housing Market has been analyzed how is the ideal home of the Spanish. The results show that residents in Spain are looking for a home on property located in the peripheral area of the center (45%), located on a floor of a building (78.1 %), that is second-hand but does not need refurbishment (54%), with a area between 76m 2 and 120m 2 (53.9%), having three rooms (48.9%) and with two bathrooms (52.6%). As for the price , in the case of the purchase you should see 166,000 € and in the case of rent € 559 per month .
Less budget to buy and whose monthly mortgage does not exceed € 500
According to the I Observatory of the Housing Market in Spain, the average price of the housing offered in our country is € 241,145, a figure that exceeds almost € 75,000 strong> the average price available for those who want to make the purchase. In fact, the average purchase price for those who have already carried out the home search is 166.179 €.
There is a clear supply deficit with respect to the demand for homes whose price ranges between € 75,000 and € 200,000, and is from € 200,000 where there is an outstanding Supply surplus vs. demand. To access the purchase, half of buyers plans to pay a part in cash and another with a mortgage and 25% with a credit for the total amount , although the monthly amount of the mortgage is expected to not exceed € 500 . This figure supposes for a quarter of the buyers more than 30% of the income of the home.
In this context, the rental housing offer of up to 500 € per month (41%) is 11 points below demand (52%), while in homes between 501 and 600 €, there is a surplus of supply of two percentage points (20% vs. 18%). From this amount, the price ratio is very tight, until reaching homes of more than € 1,200 per month, where the offer is above 5 percentage points.
In the same city, on a floor and second-hand but not in need of reform
3 out of 4 people who are looking for a home do so in the same city of residence and, of these, almost half (45%) search in the peripheral area of the center for a number that exceeds in 7 percentage points to the current supply of housing of this type (38% vs. 45%). On the other hand, despite the fact that there is only 16% of Spaniards who opt for the outskirts, the reality is that the offer exceeds demand by five percentage points (21% vs. 16%).
72% of the offer real estate corresponds to apartments in buildings , which implies 6 points below the demand (78%) of housing this type. On the other hand, the study reflects a surplus of offer in terms of independent single-family homes (28% offer versus 22% demand). Of this real estate offer, 76% that is for sale or rent are second hand homes that do not need reform . If this data is compared with the current demand, there is a excess supply of this kind of housing, since the demand is only 54% , that is, > 22 percentage points less . On the other hand, a 25% of the study participants have searched or are looking for a new house without being premiered, while the offer, in this aspect, is only 8% which reflects a decompensation of 17 percentage points .
Missing houses of medium size, three rooms with two bathrooms
As for the characteristics of the apartments , there is a small deficit between the demand for apartments from 51 to 75 m 2 , 23%, compared to the offer, 22%, as in homes from 76 to 90 m 2 where demand is 28% and the 26% offer. Where the deficit is most noticeable is in homes from 91 to 120 m 2 where the demand is 26% but the offer is only 18% .
Regarding the distribution of the houses it is noted that supply and demand are not in agreement . Thus, the demand for homes of three rooms (49%) exceeds the offer by more than 13 percentage points (36%), while the supply of more homes of three rooms (31%) is located well above the demand, which only reaches 19%.When choosing a home, for a large majority (87.5%) it is important that the area is well connected ; for 84% the closeness of supermarkets and shops and 75.7% is set in car parks for residents . On the other hand, a 90% search for a safe area to live and for 7 out of 10 the home orientation and quality of building materials are two important criteria when looking for a new home.
Spanish women lead the residential market of the buying and selling
6 out of 10 buyers and sellers in our country are women . In the case of the purchase , the average age is between 18 and 39 years (72.8%) while, in the case of sale , over 40 (51.4%). The married and in a couple are the ones that mostly move this market (60.3% in the case of the buyer vs. 57.2% in the case of the seller). Regarding the number of inhabitants in the home, the families composed of 2 people are mostly those who buy the most (38.4%), on the contrary, those who > more sold are families of 4 people (35.3%). Similarly, none of the two profiles exceeds € 2,500 of monthly income.
Author article: Century 21 Spain
