New home buyer profiles in 2021

The Covid-19 pandemic has been a turning point for all economic sectors, including real estate. Although the impact of the health crisis has not been so serious in this, it has influenced issues such as the profile of the buyer or the type of housing that is most demanded now.

According to Solvia’s latest residential report, which has been echoed by the Idealista.com portal, in the new construction market the buyer profile has changed. We tell you who the new housing seekers are.

Young couples, private investors and elderly claimants

The search for new homes has increased significantly. The reason is that these properties are more suited to the characteristics most demanded after the pandemic: larger size, open spaces, more efficient, etc.

But now it is no longer only middle-aged families who are interested in this type of housing. New profiles have appeared: young couples looking for their first home, owners who do not want to make reforms in their home, private investors and older applicants.

Young couples looking for their first home. The possibility of teleworking, the situation of the properties in well-connected areas with services and the most adjusted prices are the main reasons.

Teleworkers. The location of the company is no longer a condition for these people looking for housing. Now the important thing is not the situation of it, but that it meets its needs.

Applicants for second homes. Now these homes are considered as a second home where to spend most of the year. “Looking ahead, the second home market is expected to experience a sweet stage thanks to the boost of teleworking.”

Fugitives from reforms. That is, buyers who are not willing to suffer the reform of their current home.

Elderly people. The pandemic has been especially primed with this sector of the population, so it is logical that they look for housing in quieter areas, with landscaped common areas or community spaces.

Private investors. With interest rates at a minimum, the purchase of housing is once again an investment alternative. According to Solvia, the best areas to invest will be neighborhoods with affordable prices, high demand for rent, good communications and services: university areas, business centers, dormitory cities, etc.

Most demanded types of housing

After the fall in the number of real estate transactions that occurred in the first half of 2020, the market rebounded and the volume of new mortgages signed exceeded 5,400 million euros in Spain. This rate was the highest among the countries around us.

But buyers’ needs have changed. The restrictions on mobility imposed by the advance of the pandemic have caused a change of mentality. The interest is focused on larger houses with open spaces and single-family homes, preferably away from the center of cities and with green spaces. (Data collected from the Quarterly Statistics of the College of Registrars).

Bcn Advisors, in its analysis of the forecasts of the real estate market, confirms this trend in terms of the type of homes that will be demanded in the coming months:

  • In urban areas, flats with terraces or patios.
  • Homes in which an office can be located to telework.
  • Self-sufficient houses.
  • Properties on the outskirts of the city or near green spaces.

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By Catharine Bwana