Spanish intention to buy a house is on the rise :
From the perspective of the interest in real estate, the rebound in activities is obvious, even exceeding the pre-pandemic level. Interest in all communities, all age groups, and all markets is rising. But in some aspects, more than others:
- buying and selling of property, increase in renovation and purchase of furniture
- Within Spain the increase is more important in the Valencian community and in Catalonia; including the young people.
In a way, the picture that emerges from the evolution of the year and a half of the pandemic is that, after the initial status quo. Percentage of people looking to buy increased in the different region of Spain, also the general amount of people looking to buy increased.
And so we have arrived at a situation where, although there are still layers to be reincorporated, activity levels are already higher than in February 2020.
In fact, 23% of Spaniards would like to buy a property in the next 5 years, this 23% of Spaniards who intend to buy in the future was 18% last February, so the intention to buy in the future has increased by 5 points in just 6 months.
The intention to buy in the short term (two years) is mainly driven by the population aged of 25 to 54 , 25-34 year olds, 12% plan to buy a home in this period , 35 and 44 year olds, they represented 10% , 45-54 age group, the proportion was 9%. Only 2% for 18-24 year olds.
Here you can see the different segments that have been analysed :
Segment of people wanting to buy a house
source : Fotocasa
The average age of these potential buyers is 40, and they often still live with their parents in order to save their money for their future property. They represent 14% in Catalonia, 16% in Madrid and 19% in Andalucia. Most of them represent a higher socio-economic category with 46% of them against 19% of the lowest category.
All those who have postponed the purchase have made this decision for various reasons. However, the main factor being financial, lack of savings (34%) and the economic or professional conditions they are experiencing (33%) are the most frequently cited reasons for potential buyers. But there are other reasons why people postpone this transaction, such as other priorities or expenses (25%), already owning the product (22%), or the price does not fit their budget (16%).