New economic cycle brings new homebuyer to the surface
According to the report "El perfil del comprador de vivienda" by ST Sociedad de Tasación, the majority of buyers continue to be those aged between 23 and 35, followed by those aged between 36 and 45, who, compared to last year, have increased by 7%. The main reason for buying is still to own a property and to stop being a tenant, but another important reason is to improve the current property. On the other hand, making a new home has decreased its percentage, as has buying a home as an investment, probably due to the constant rise in prices that can damage the profitability of housing.
This rise in prices is also leading to a change in the timescales that buyers set for finding their future home, as previously this was not an important factor for 35% of buyers, and the "one year" timeframe was in second place. But nowadays the opposite is true, with buyers trying to find their home as soon as possible. And many of the consumers agree that they prefer a second-hand home with a fixed interest rate when signing the mortgage.
Finally, purchase budgets have increased, because although the budget of those with up to 150,000€ and between 150,000 and 300,000€ has decreased by 2%; the budget of those with more than 300,000€ has increased by almost 4.5%. However, the number of people who can afford the full price of the house has decreased and those who have to finance more than 80% has increased.
