Quick sales show market’s strength

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PROPERTY BOOM: Houses are being snapped up fast.

HOMES are selling like wildfire in Barcelona with the majority, registered as available for sale, being bought within three months of being advertised. The property portal Idealista, one of Spain’s largest, revealed the interesting figures in its latest market report. 

The figures for April 2016 showed that just over 50 per cent of homes put on the site were purchased within 90 days, while 15.2 per cent went within just one month. 

Reflecting the strength of the local market, the results also suggest that homeowners who haven’t sold their property within a year should seriously consider revamping their selling strategy. 

Barcelona presently enjoys a booming rental market and it is thought that many of the excited buyers are looking to let out their new properties to capitalise on its continuing momentum. 

Idealista suggests that, given the current rate of purchasing, those who are having difficulty selling should consider lowering the price, renovating the home or upgrading their advertising to ensure they don’t miss out on the rush. 

The average price of homes sold in the Catalan capital throughout the month was €324,689, although the largest contingent of sales took place at less than €200,000 and only five per cent went for more than €750,000.

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