Although summer is a time of rest and vacations, there are enough reasons and people who choose August as a period for large real estate purchases.
Armando Lasauca, CEO of the real estate agency aProperties, is one of those people who popularize real estate purchases during this period. He believes that, based on the data available to his company on the dynamics of the Spanish market, it is in the summer that most families decide to buy a new house. This observation is true for the coastal regions of the countries.
Lasauca says: "Buyers have more free time to visit different places, view potential properties and think about which property best meets their needs."
Ramon Riera, vice president of FIABCI, the international federation of Real estate Business, supports Lasauca's point of view, pointing to the data available to FIABCI for the summer of 2022. First of all, this period is good for sellers. Riera adds that this year the Spanish housing market expects a "foggy" autumn, but it is also a good time to monitor the market and plan to purchase real estate next year.
The main focus should be on the growth of interest rates and how banks will behave in the current situation. Banks that need to continue to attract customers and find other methods besides low interest rates to motivate people to take out loans. In any case, the autumn-winter of 2022 is not the right time for rash acquisitions.
Lasauka explains that summer affects sales and unexpected moments, such as presentations and aesthetics. Bright sunny days, pleasant climate, green trees and natural lighting will emphasize many advantages of the exterior and interior in Spanish houses. In summer, it is much easier for buyers to spend as much as possible.
Especially the summer period is good for selling housing with various outbuildings and amenities, be it gardens, swimming pools or golf courses. According to Armando, prices should also not worry sellers too much. Despite the belief that summer is characterized by a decline in prices on the market, aProperties data show no significant seasonal changes.
Riera supports the statement on price stability and indicates that in the near future they will only continue to grow, which creates an excuse for sellers to prepare for sales next summer.
There are not so many good housing on the secondary market, new buildings will also not enter the market in sufficient quantities over the next year. In many places, there is no free land for development, and its search will also postpone the launch of new housing projects for years. In this regard, the summer of 2023 may be a good time for sales.
According to Ramon, Spain and Europe are a little behind what is happening in the American market. They are taking measures to combat negative trends in the construction sector, while Europe is only responding to changes without having a clear action plan to change the situation.
There are several forecasts for 2023, often contradictory. There are expectations of continued market growth, at least in some segments, and forecasts of a steady decline. In the high-priced and premium segments of the Spanish housing market, we can confidently expect prices to rise next year. However, the global prospects are dim, and the inaction of the regulatory authorities does not improve the situation.