Buying or selling a property in Barcelona right now?
Is it a good idea to buy or sell a property in Barcelona right now? The answer is Yes and Yes.
Keep reading to know why:
Buying a property
If you need to buy a property now we recommend the current time in order to avoid further interest rate rises. Buying a property for your use or to invest in the current time (May-June 2022) can save you a lot of money.
If you want to buy a property to invest or rent it. The real estate market is quite optimistic in both respects.
1.- Buy to invest.
In the short term, although interest rates will keep on the rise, what is falling is the housing inventory.
Because the market contained during the pandemic crisis, the reopening of tourism and leisure has economically revitalized the city of Barcelona, closing many real estate operations in a short time.
2.- Buying for renting.
The fall in the law regulating rental prices has brought the rental market back to a 0 point where rental income is adjusted to the market and the condition and characteristics of the property being rented.
While an apartment in normal condition will have to adjust to the market price of the rent of the majority of the city’s tenants, a property, renovated, with better location or with more benefits than the average will always go intended for a higher-income tenant, and there will be no legal limit to that.
Sell a property
The reasons are similar, unless they are unique real estate products, luxury or with unusual features, rising interest rates will cause the real estate market to slow down, coinciding with the relaxation of the wave of post-crisis activity.
If the property for sale is a property with the most common characteristics in the market, it will always be a better time to sell it on more favorable terms to the large social mass of real estate buyers. Those who will have to take out a mortgage and who will appreciate a lower interest rate.
Shops
Shops are a type of property that has suffered a sharp decline in many neighborhoods of Barcelona.
Although the reasons are so exportable that we could talk about the same thing happening in all the cities of Spain and part of the West. The reasons are:
1.- Economic activity on the street is declining compared to a few years ago due to e-commerce and e-shopping at home.
2.- The pandemic crisis, in which many businesses had to lower the shutter, has caused the highest point of closed premises in recent times.
Recovery:
However, all indications are that there will be a slight recovery thanks to the end of the pandemic crisis. New businesses are opening up, often adapted to the new times, which aim to sustain their economic activity over time.
Therefore: YES, it is a good time to sell or rent a shop.
In fact, it is probably a very good time to get the most out of a property that can become part of a “surplus” in the city in the future. This must be avoided!
If you have to sell a property in the city of Barcelona, you need to play it smart and getting professional advice that will help you get the most out of your property in a concise operation without headaches, waste of time and energy.
At Si Real Estate we are experts in hundreds of real estate transactions and in adding satisfaction on the part of our clients.
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