Is now a good time to sell a building in Madrid?
Housing has become a refuge value in times of uncertainty, and at Renta Corporación we know this first-hand. With more than 30 years of experience in the real estate sector, we are experts in the purchase, rehabilitation and sale of buildings in Barcelona and Madrid.
We are currently experiencing an unstable scenario due to the war in Ukraine, high inflation and the historic increase in the price of energy and oil.
If you are thinking of selling a building in Madrid, perhaps all these facts will make you wonder whether or not it is a good time to do so. Below we will make a brief analysis of the current situation of the sector to answer your questions.
The Salón Inmobiliario Exhibition, a key meeting point for the sector
Image from the official website of SIMA
The Real Estate Exhibition was recently held in Madrid, a reference real estate event in our country, which has reflected the growing appetite for buying buildings among the attendees, especially for residential rental.
Although the regular home buyer represents the majority of visitors, this year new trends have appeared and are consolidating. This is the case of investment in second homes or tourist homes. The interest of the funds in residential rental assets has also grown, which has caused an increase in turnover.
Another growing trend in the sector is the purchase of single-family homes. Although high-rise housing continues to be the majority (around 77%), more and more individuals are looking for spacious homes, with gardens in peripheral areas.
So, is now a good moment to sell a building in Madrid?
Housing keeps on being a refuge value
The pandemic, armed conflicts, rising inflation and changes in social trends, among other facts, have created a panorama of international uncertainty.
Although prices will continue to rise and interest rates will rise, experts predict that they will remain much lower than a few years ago and real estate will continue to position itself as a solid sector with more than 576,000 home transactions in 2022.
Great saving of the Spanish
The savings of Spaniards reached a maximum during the coronavirus health pandemic and because of this fact, more and more individuals are investing in residential property in addition to their usual home.
Lack of land in the main locations of the country
The availability of urban land for building is distributed unequally in the Spanish territory. Although it is true that there is a large area of land available, in the main cities of the country such as Madrid, Barcelona or Valencia this does not happen.
This fact, added to the long wait for the administrative procedures to obtain finalist land on which to build, limits the development of new-build housing.
Thus, most investors choose to acquire existing buildings to adapt them to current market needs.
If you want to sell a building in Madrid, contact us and we will make you an offer in less than 48 hours!