The Priority real estate desire of Catalans is to have new, clean accommodation. Without this being a surprising conclusion, a survey carried out by the Real Estate Culmia draws collective intuitions with data and specifically concludes that 41% of Catalans focus on these arguments housing search. Despite this, 80% of sales are concentrated in second-hand homes.
54% of Catalans opt for the apartment option in their preference, followed by the house, with 40%, the penthouse 24.5%, the apartment in urbanization 20% and the apartment 18.5%. Those over 35 are those whose economic and vital situation is the most adequate to realize their real estate dreams, but curiously, it is those over 65 (66.7%) who buy the most real estate (for them- themselves or for their children).
The report “The buyer’s journey in Spain” commissioned by Culmia and prepared by the demoscopic firm Sigmados points out that the biggest challenge for those looking for accommodation is finding enough options within their price range in the area they are interested in. 50% of potential buyers say that this lack of supply is the biggest barrier to buying.
The most common budget for a property buyer in Catalonia is between 100,000 and 200,000 euros (44.5%). Similarly, 28.5% recognize that they could exceed this budget when faced with an attractive alternative. Only 5.5% would allocate up to 400,000 euros to the purchase of a home.
The report reveals that more than 40% of Catalans acknowledge that they are currently considering a change of house and in which, in general, it favors larger spaces, the availability of a terrace or garden or the possibility of enjoying a quieter area. This search for larger spaces mainly responds to the average profile of the current post-pandemic home buyer that the majority, 60.5%, have three or more members in the household, followed by couples, 30.7%. On the contrary, only 8.7% of people currently in search live alone. The data from the report produced by Sigmados is an aid for real estate sales professionals when it comes to setting priorities in their daily activity.
A third of tenants are looking for an apartment
According to data from the report, 64.7% of respondents admit to having looked for a house at some point, and of these, 49% ended up buying it. For the most part, people looking for a new home already have their own residence. More than half, 54.5%, live in the property and only 14% search while residing in the family home. At this stage, the 31.5% of people who are currently renting and looking for real estate stand out, in line with the current trend in the residential market.
The search for accommodation in Catalonia is mainly based on owned accommodation, however, within this category, a distinction is made between the search for new homes (41%) and second-hand homes (34.5%). By age bracket, we note that the over 65s opt more for new constructions under the ownership regime, as well as the 46-64 age bracket, although practically tied with the 2nd hand in ownership. The apartment is the most requested option, with 54%, followed by the house 40.5%, the penthouse 24.5%, the apartment in urbanization 20% and the apartment 18.5%. And among their preferences, large spaces predominate where 3 rooms are the most requested, with 57%, followed by 4 or more with 23%, and the two-room option, with 19.5%.
The pandemic has changed the priorities of the typical buyer profile and with more spacious homes, other aspects beyond the interior itself are now valued. Among the main reasons that pushed Catalans to start looking for accommodation, 24% recognize the possibility of being able to live in a quieter area, while 22% reveal that they would like to have a terrace or a garden area in their place of residence. The lack of space, 17.5%, the possibility of having new housing, 16.5%, or living in a better served area, 13%, are the other reasons for looking.
The most desired change
Regarding the location, potential buyers are reluctant to geographical mobility or changes involving large distances. 35.5% say they are looking for accommodation in the same city and even the same neighborhood where they currently live; 26.5% are looking to live in the same city but in a more central area and, similarly, 22% would like to live in a more central area of their own metropolitan area. On the other hand, 10.3% are looking for accommodation in the same metropolitan area but further from the center, and 17.5% are looking for accommodation further from the center in the same city. However, 13.8% are looking to move to another town in the same Autonomous Community and only 5.4% are looking to change town to another region.
Catalans tend to allow themselves to be advised and supported by the people they consider closest to them. 64% agree that it is family and friends whose advice they value the most in making the decision and 38% say they value the advice of a professional in the sector the most.
Housing search time is generally between 1 and 12 months, with the 1-3 month option being the most common and the younger group spending the most time looking. In addition, for 48% of people who bought a house, their budget was adjusted and they did not notice any deviation, 20% say that the purchase was 10-20% cheaper and for 18.4% it was up to 20% more expensive.