Why sell your house in Ibiza now?

The future of the real estate sector is perceived with much more optimism than a few months ago. That is precisely why this is the best time to sell your house.

It is now that the perfect conjunction is in place to get the maximum benefit from the operation. If any of the factors change in the near future, you could lose some of that advantage.
Here are the main reasons why you shouldn't wait if you want to sell your house in Ibiza:

INCREASED DEMAND

The pandemic has changed buyers' preferences. And it has also changed many people's ideas of what a home should be like to live in. Confinement has exposed the lack of space in many homes to accommodate telecommuting or simply to enjoy more time in them.

This has meant that demand in the property market has been maintained and even increased in some areas such as Ibiza. It is, therefore, a good time to achieve a faster sale and with a higher profit, as there is the possibility of negotiating upwards with potential buyers.

LOW HOUSING STOCK INVENTORY

While demand has remained the same or grown, the same has not happened with the available housing stock, which has fallen. A figure offered by the Ministry of Transport, Mobility and Urban Agenda backs this up: at the end of 2020 in Spain there was a stock of unsold new homes of around 457,000 units, 30% lower than the figure for 2008.

In fact, in some communities such as Cantabria, Extremadura or Navarra, this stock was zero. This means greater opportunities for the sale of second-hand housing. However, it should not be forgotten that the reactivation of the market may also cause the trend to change, so that as the supply of new construction increases, the high interest in the current used housing stock will be reduced.

INCREASE IN HOUSE PRICES

High demand for housing and stagnant supply means price increases. This is reflected in the latest statistics, which point to an increase of 3.6% year-on-year, especially on the Mediterranean coast, in peripheral areas and in small towns.

If you want to sell your house, now is a good time, when the real estate market is starting to recover. On the one hand, waiting for the economic recovery may have the opposite effect to that expected. If the construction of new buildings is reactivated, the second-hand market could be seriously affected.

On the other hand, there is the fear of a rise in interest rates, or even prices. This fear can become an incentive for people who are still hesitant to buy now, before the situation can change significantly.

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