If you are thinking about selling your home in Barcelona, now could be an opportune time, with agents and portals reporting record numbers of buyers enquiring about properties. Pent up demand during a year of lockdowns and restrictions is being reflected in one of the strongest sellers’ markets in years.
Interestingly, the impact of the health crisis on the real estate market has not been as severe as was first predicted. Although year-on-year average property prices have fallen in Barcelona (by 4% according to idealista), they have risen slightly since January this year (by 0.2%) currently stand at €3,990 per square metre.
“Contrary to what is happening to the rental market and despite the predictions of many experts in the sector, the impact on the home sales sector has been minimal,” comments Francisco Nathurmal, CEO of Bcn Advisors. “Although transactions have inevitably been postponed, demand for property is healthy. People are thinking much more about where they want to live and how they want to live. As a result we are seeing significant interest for every new property as soon as they are listed, with buyers keen to secure their next move.”
With low interest rates set to continue, increasing numbers of competitive mortgage packages are coming onto the market every day. Furthermore, spring and early summer are a great time of year for property viewings. It is a time of change and with the added benefit of extra daylight hours to showcase your home, it is even more important to prepare for a quick sale at the right price.
Follow our tips for selling your property
Here are our top five tips to get things right from the start:
1.Find the right agent
The first step is of course choosing the best real estate agency to market your most prized asset. It is important that the agency has both experience and knowledge of the property sector where you live. Check out their Google reviews, the quality of their website and their level customer service. Do they return calls and enquiries quickly? Do they ask the right questions? How transparent do they sound about the current state of the property market? Ideally, ask friends for recommendations.
2.Price your property correctly
It’s been a challenging year for all industries, the real estate sector being no exception. That being so, it makes pricing a property more difficult given there are other permeations to take into account, such as the economic situation, where people are choosing to live and in what type of property. What is clear, however, is that bricks and mortar continues to be regarded as a sound investment. Many people currently see stock markets as volatile and some banks are charging fees for depositing savings in your bank account. Savings generate very little return in any case due to the low interest rates. As buyers return, prices are expected to creep up again and stabilise. Speak to your agent about getting the right price to sell your home quickly.
3.Strategise (get the right marketing)
What are the strengths and weaknesses of your home? Talk to your agent about ensuring that the marketing of your home shows it in its best light. Buyers’ requirements are changing. Many are looking for open spaces in which to have a home office as well as some outside space. Gardens and balconies are at a premium so work on getting these to look as attractive as possible if you have them. Check out the portals that your home will be featured in. Make sure you are happy with the images and the copy on your listing. If you or your home has an interesting back story, tell your agent about it as it could make a good article for press, resulting in more viewings. Find out if they will be using your home in any advertising or newsletters.
4.Brighten up, declutter and depersonalise
First impressions really do count. The key to attract any potential buyer’s attention is to create attractive spaces where they can imagine themselves living. Everyone’s taste is different of course, so ideally, keep things neutral. Give tired walls a fresh lick of paint, clean the windows and blinds. Sort out the snag list – the things you have not been happy with for years but haven`t got around to sorting – taps that drip, scratches on the floor or broken lighting. Make sure your cupboards and wardrobes are tidy – some buyers can be very inquisitive! Decluttering your home gets you ready for your next move, and it also gives buyers more scope for thought.
5.Get the viewings right
This is your home’s special moment. To ensure your prospective buyers get the very best impression possible, there are a few final touches that could make all the difference: ensure that the blinds and curtains are open; leave some windows open as well so that fresh air flows through your home; leave the property as tidy as possible; place some fresh flowers in vases; and finally, get out! In many cases, buyers will want to have as few distractions as possible during their viewing and talk only to the estate agent, without feeling the eyes of the property owner at all times.
The return of the international buyer
Over the next few months, Spain is expected to see the return of international buyers, with many of them having more disposable income after a year or so of saving up. Many of these buyers will have had a lot of time to think about what property they want to buy and where. Sellers need to be ready for their return. International investors tend to look for more unique properties so owners need to make an extra effort, ensuring their homes are as attractive and sellable as possible.