Five Reasons to Add Home Buying to the 2022 Purpose List

DOMUS DP Real Estate

This growth rate is the best October figure in fourteen years. This is the eighth consecutive month in which sales have scored a good figure, with very high year-on-year increases. This is one of the symptoms that reflect that the real estate sector continues strong and leads the economic recovery of our country.

2021 has been a decisive year for the sector, but 2022 could also be. Prices have not skyrocketed and we are a long way off, according to experts, from what could be a new housing bubble. This fact, together with other novelties in the sector, such as the increase in technological functionalities and digital services,the transformation of housing needs when looking for a new property, the irruption of teleworking or a greater interest in enjoying rural areas, make the first months of 2022 the perfect time to take the step and acquire a new property. But why should we add home buying to our list of purposes for 2022?

Good buying opportunities in new construction

After the pandemic, buyers are looking for larger homes, if possible single-family, with outdoor areas such as terraces or balconies, with more community services such as gardens, swimming pools or recreational or energy-efficient areas. Some attributes that new construction homes meet. Although the prices in this case will not adjust too much and will remain stable. In addition, taking into account the rise of teleworking, buying a property in peripheral areas, where the cost of these properties is much lower, will allow you to take advantage of the great opportunities presented by this market.

Homes in much more affordable central locations

For those who prefer to enjoy central locations and, at the same time, large spaces,more light, extra rooms to telework, and even energy efficiency, there is also the option of acquiring a second-hand property at a good price and carrying out reforms.

Greater digital functionalities for the purchase

Intelligent market analysis tools, alert services, use of filters, good quality photos, videos, mortgage simulators, etc. All these functionalities facilitate and provide higher quality to the search for housing. In addition, in the case of visual resources, they help to get a first idea of the property and avoid unnecessary displacements.

Housing continues to be a profitable asset to invest in

The profitability of housing in Spain stands at 6.8%, 0.2 point more than in 2019 (6.6%) and 1.5 point more than five years ago (5.3%), according to the study "The profitability of housing in Spain in 2020",based on the analysis of the prices of housing for sale and rent in December 2020 by the real estate portal Fotocasa. The data also indicates that acquiring a property to put it up for rent in 2020 is 2.5 points more profitable than 10 years ago (4.3%). Thus, housing remains an asset for which we can continue to make a profit,especially through renting.

Lower mortgage interest rates

The low interest rates offered by banks will be maintained and will continue to be an incentive for buyers with resources to acquire a new property and take out a mortgage. Even so, banks continue to maintain their strict conditions when it comes to facilitating this type of concessions. Even more so in a context of economic uncertainty, when banks have to be governed more than ever by these requirements, in order to ensure that the applicant has sufficient economic solvency to face the mortgage loan.

Second homes in areas with little population

The recommendations of social distancing and the search for places with fewer crowds have changed the perspectives of Spaniards when choosing a place for their second residence. To disconnect or even telework, provinces and municipalities with less population are now much more valued,located in areas where making getaways to nature is feasible and with a lower rate of infections.

To these factors is added the price adjustment of the properties located in these areas, which can also be a good bet for investment in the future.

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