Covid19: impact on average time to sell a property in Spain
Published: 13 November of 2020
Tell me where you wish to buy real estate in Spain and I will tell you how fast properties are getting sold!
The 2020 3rd trimester data were released and without a surprise the saying “location location location” is even more true in time of pandemic than ever.
One of the advices we systematically give our clients when we assist them in purchasing a flat in Barcelona is to ALWAYS think about the “resell” potential. Because eventually, they will sell the property they are about to purchase!
To that extent, the average time to sell real estate is a key aspect to keep in mind, both when buying a property (as it is a good indicator of how agile you will need to be) and when selling it (to properly anticipate what is to come).
According to the latest data from Idealista, one of the main property listing websites in Spain, the average time to sell a property in Spain has increased from slightly over 5 months to 6 months on average during the 3rd trimester of 2020.
Looking closer, the current crisis has widened the gaps between the different Spanish provinces and the real estate market is now more heterogeneous than ever. One thing seems clear, not all the provinces are equal when it comes to how the covid crisis is affecting their real estate market and while some see their situation improving, others on the contrary, see the selling time getting even longer.
In some provinces (Teruel, Palencia and Zamora) it now takes over a year to sell your property while other provinces are below the 4.5 months mark (Granada, Madrid, Barcelona y Zaragoza) and have even in some cases such as Granada improved the selling time compared to 2019.
Looking at the province’s capital cities where the demand tends to be higher, the dynamic follows the province one within the top 5 of the cities where the properties are sold in the shortest time: Granada (2,2 months), Barcelona (2.7 months), Zaragoza (3 months) followed by Valencia and Madrid (both at 3.1 months).
Barcelona comforts its position as one of the main cities in Spain where properties rarely stay long on the market even in times of Covid. With this in mind, now more than ever, property buyers moving forward with the search of their perfect flat need not only to be fully prepared for it but as well have the time needed to be on top of their search and not let the perfect place escape them.
To that extent, to have a buyer agent by your side is the guarantee that a professional will pro-actively screen the market and ensure that you do not miss on any property that meets your criteria.
Once the perfect flat has been identified, the buyer agent will assist you with every step needed to buy real estate in Barcelona and will ensure that you save time, money, hassle and have your interests protected at all times.
Barcelona Flat Hunter makes it easy for you to buy a real estate in Barcelona & turns your real estate project into reality.
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