The rental market consolidates its growth: 36% of Barcelona Meeting Point visitors are looking for rental apartments
- According to a survey carried out by Servihabitat at the BMP, interest in rentals has grown by 4 points compared to 2015.
- 31% of the BMP visitors asked believe that prices will increase in the next two years.
- Not being able to cover the initial costs when buying a house is one of the leading concerns of attendees.
- As far as rentals, 65% of survey participants face the challenge of finding centrally located and affordable properties in cities.
Barcelona, October 26, 2016.- For the third consecutive year, Servihabitat surveyed more than 650 Barcelona Meeting Point (BMP) visitors to reveal the leading trends when buying or renting a home by gathering information on the interests of the attendees at the real estate trade show.
Rentals continue to grow, year after year. In 2015, 32% of those surveyed stated that they were searching for a home to rent, including rentals with an option to purchase, and in 2016 this number grew by 4 percentage points to 36%. On the other hand, the percentage of home buyers continues to drop, from 68% in 2015 to 64% this year.
57% of those surveyed attended the fair to purchase or rent their primary residence, which is 17 percentage points higher than in 2015. 15% of respondents are interested in a change of residence -in other words, they would like to replace their primary residence with a different one-, and 6% of attendees would like to purchase a vacation home. An aspect worth highlighting is that 22% of attendees are interested in real estate investments. This number is 9 points higher than in 2015 and shows the increased investment appeal of the Spanish housing market.
As far as the types of homes, 53% of survey participants prefer existing homes while 47% opt for new homes; the latter percentage is higher than in 2015, when 41% of visitors were searching for new homes.
In terms of time frames, which haven’t changed much since 2015, the majority of those surveyed (38%) plan to purchase or rent a home in the immediate future and 37% have been looking for it for less than three months.
As regards to the perception of current real estate market trends, 31% believe that prices will rise in the next two years. In addition, the number of attendees who are convinced that the real estate market has hit rock bottom fell by 7 points, from 26% in 2015 to 19% this year.
Of the most common alternatives for finding properties, the Internet is the leading channel, with a significant spike compared to 2015 (from 64% to 80%).
When asked about the biggest obstacles in buying a home, 52% of participants mentioned not finding what they want, followed by not being able to face the initial costs (19%). As far as their worries regarding the purchase, 20% of those surveyed were concerned with potential issues or unexpected imperfections. In the rental market, survey respondents confirmed that it is challenging to find properties in downtown areas (21%) and that their prices are very high (44%).
Servihabitat, author of the survey and independent servicer for the management of real estate and financial assets, presented different attractive deals at the BMP, including the “Last Few Available” campaign, with which Servihabitat offers up to 20% discounts on a wide selection of new and existing homes. The wide array of off-plan developments up for sale as well as the innovative solutions that help business owners and entrepreneurs purchase and lease their work spaces, such as the “Find the space you need for your business” campaign, have awakened the interest of many clients. With a special focus on professionals searching for investment opportunities, the Company has also selected and classified more than 25,000 pieces of land, plots, and buildings (including offices, retail spaces, warehouses and structures).
In addition, Servihabitat has an extensive regional presence and a large network of almost 8,000 points of sale (of which more than 2,000 are API partner real estate agents) to market real estate properties. The Company also has a strong online presence thanks to the commercial website www.servihabitat.com, which the digital audience ranking by the independent company ComScore has rated as the top real estate servicing website in the market.
Technological and operational independence
Having a proprietary operating model that works with a scalable and flexible technological platform based on a specific development that is completely suited to financial and real estate environments gives Servihabitat a unique level of management independence in the market, and this allows the company to perfectly adapt, in terms of time and effectiveness, to any client's information services. The Company’s commitment to proprietary development and the investments it has made in recent years towards improving systems and processes has resulted in highly efficient operations and a unique level of autonomy.
In addition to this technological platform, Servihabitat’s highly qualified team and more than 25 years of industry experience further reinforce its market leadership position over other entities that manage large loan and real estate property portfolios.
Servihabitat is the go-to servicer for the comprehensive management of mortgage and development loan portfolios, as well as of real estate assets. More than 25 years of industry experience and the high number of assets it manages consolidate its position as the industry leader.
A highly qualified professional team and a proprietary technological platform provide Servihabitat with an independent and differentiated operating methodology that is capable of meeting every need in the management cycle of financial and real estate assets.