Two in three potential home buyers already own at least one, according to idealista

MADRID, 10 Mar. (EUROPA PRESS) –

67.1% of people who are in the process of looking for a home already have at least one other property, according to a study carried out by idealista.

Likewise, almost half (46.5%) already own a home, while 13.2% of search engines have two homes, 4% have 3 and only 3.3% have four or more. Only a third of those in the search process do not have any property (32.9%).

The portal study also highlights that the process of buying a home is a process that takes longer in time and in which almost 40% of those surveyed take more than a year. For their part, 9.5% have been with them for less than a month, 18.2% between one and three months and 17.2% between six months and a year.

Taking into account the area to acquire the home, 60% of users search in the same municipality where they already reside, while 20.6% do so in other municipalities of the same province and almost 20% in a different province to which it resides.

The study indicates that the profile of the people who are in the buying process is that of a woman between 36 and 45 years old, who lives with a partner, has children and has a permanent employment contract.

On the other hand, regarding the typology, the study highlights that the preference is for a three-bedroom property and that the price ranges between 100,000 and 200,000 euros. Asked about the need for financing, the majority of respondents indicate that they need a mortgage for between 50% and 80% of the value of the home.

Of the people who are looking for a rental home, 64.2% do not own any other house, compared to 27.7% who do acknowledge having one. 5.8% of those surveyed say they own two homes, while 1.1% say they have three and 1.2% of rental home seekers say they have four or more homes.

Idealista has remarked that the search process is much faster in the case of rental than in the case of purchase. Thus, 17.7% of those surveyed have been searching for less than a month. The bulk of users (25%) started the process between one and three months before, 12.3% did so between three and six months and 12.7% between six and twelve months. However, almost 20% of those surveyed have been searching for more than a year.

Interest in renting is limited to the same municipality where users already reside (63.4%), while 18.4% search in other municipalities in the same province and 18.1% in a province other than the one they resides.

In this case, the search profile is also that of a woman between 36 and 45 years old with a permanent contract, who lives with a partner, but does not have children. The most sought-after type of housing is that of a two-bedroom property with a price ranging between 450 euros and 600 euros.

Idealista’s spokesman, Francisco Iñareta, has stated that the survey confirms with data the market trends that the real estate portal has been talking about for a year now.

“The confinement has caused many Spaniards to be aware of the shortcomings of their homes and that they would prefer to live in less central areas in exchange for having more square meters, greater luminosity, gardens or terraces,” he stressed.

In addition, he believes that the fact that two-thirds of people who are looking for a house for sale already have at least one other house they own is supported by “the possibility of accessing mortgages at historical minimum prices and the stability of the house compared to other assets”.

“This investment could lead to an increase in the number of rental homes in the future and, desirably, a drop in prices,” he added.

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