Buying gains ground against renting among BMP visitors and more than 75% of respondents prefer to purchase a home
- 36% of the nearly one thousand respondents, through a survey conducted by Servihabitat among visitors, believe that prices will rise over the next two years
- Nearly half of the visitors make their choice based on the product, with no particular preference for new or second-hand homes
- The lack of products adapted to buyers’ needs and the fear of not being able to cover the initial costs are the main concerns when buying a home
- The percentage of visitors looking for homes to buy immediately has risen sharply, increasing by more than 20 percentage points to 58%
- The increase in rental prices, both in the heart of cities and inner metropolitan areas, is the main limitation for 82% of respondents
Barcelona, October 23, 2017.- For the fourth consecutive year, Servihabitat conducted a survey during Barcelona Meeting Point (BMP) to gather information on interests and opinions when renting or buying a home; approximately one thousand visitors took part in it.
Among the main conclusions drawn, the upturn in the number of visitors seeking to purchase instead of rent is noteworthy, increasing from 64% in 2016 to 75% this year.
51% of respondents visited the fair to purchase or rent their first home and 21%—which increased by 6 percentage points in comparison to 2016—did so in search of a replacement home, that is, they are visitors who already own a home but wish to change it to adapt to their new needs. The number of visitors who are on the lookout for investment opportunities remain more or less the same as the previous year, which is a little over 20%.
In terms of the type of home, the number of people who make their choice based on the product, with no particular preference for new or second-hand homes, has risen considerably, with 46% of visitors stating that the type of home is of no consequence to them. 29% prefer new homes as their first option and 25% prefer second-hand homes.
In terms of time frames, the number of respondents who state that they plan to purchase or rent a home in the immediate future (58%) and have been looking for less than three months (58%) has risen by 20%.
As regards the perception of current real estate market trends, 36% believe that prices will rise in the next two years. 13% believe that the market has hit rock bottom while 16% believe that bargains are coming to an end.
Of the most common alternatives for finding properties, the Internet is the leading channel, once again increasing from last year to 83% this year.
When asked about the biggest obstacles in buying a home, 35% of participants mentioned not finding what they want, followed by not being able to cover the initial costs (20%). In the rental market, the increase in price is without a doubt the aspect that is a major problem for respondents, who point out the high prices not only in the heart of the cities (48%) but also in the inner metropolitan areas (34%).
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