Another year is drawing to a close and with it comes a glory period for the real estate market. Until September and according to the latest report published by the National Institute of Statistics, a total of 499,377 sales had been signed, 18.3% of the same period of the previous year. The price per square meter, for its part, closed September at 1,633 euros, according to the General Council of Notaries, with a year-on-year increase of 6.1%. But things are about to change.
Industry specialists agree that sales will fall in 2023, although there is no consensus on the figure. The real estate company Redpiso forecasts a 30% drop, while the consulting firm Atlas Real Estate Analytics expects a 15.4% drop. When it comes to prices, there is more disparity: Bankinter forecasts a 3% drop for next year, while the ING bank anticipates an increase of only 1%.
Despite the uncertainty that reigns in the sector, the specialists of the real estate comparator HelpMyCash.com consider that now is a good time to sell a property. "Statistics warn that this is the best moment, at least, of the next two years," they say. Is it possible to close the operation in a month?
Contacting an iBuyer, which are companies that buy houses for cash in 7 days and without intermediaries, is an option to take into account to sell a flat before the end of the year. And speed is not the only advantage: iBuyers also take care of all the necessary procedures to close the sale and require a single visit to inspect the home and make a purchase offer.
And they add that, in general, the purchase price offered by iBuyers can be a little lower than the market value. "Immediacy also has a price," they assert.
Another advantage of iBuyers is that they are direct buyers and do not depend on granting a mortgage loan. And despite the fact that this benefit does not exist in the conventional sale, another option that owners have to sell their house in a month is to go on the market for an adjusted price.
The specialists of the real estate comparator explain that, when a professional valuation of the house is made, the owner obtains as a result a range of prices at which the property is most likely to be sold. If he is in a hurry to sell, he may choose to list his home for a rather low price within this range. The more he adjusts it, the faster he will sell. "Professional advice is key at this point to define a price that is attractive enough to sell quickly, but without underselling the property," say the experts.
The appearance of the home is also important to capture the attention of a large number of buyers and sell faster. Painting the walls, repairing the faucets, changing the curtains and subtly decorating the house are simple strategies that can reduce the mean time to sale. There are, indeed, real estate agencies that offer Home Staging services, a technique born in the United States that seeks to improve the appearance of the property with little budget.
The real estate market is entering a cycle change, where price and sales records are beginning to come to an end. With these tricks, an owner can sell his apartment before the end of the year and start 2023 with no outstanding bills.