With the end of the summer, and after having enjoyed a wonderful holiday on the Mediterranean coast, it is very common to receive many calls from clients or people interested in buying a property in Spain.
Whether to use it as a second home, or first in some cases, or as an investment to get a return later through renting, the truth is that after the summer we usually find a greater supply of properties for sale.
This year, we wanted to anticipate and delve deeper into this aspect.
In our new article, we are going to analyse the reasons and explain why it may be a good time to consider buying a property.
Is the end of summer a good time to buy a property?
Firstly, we know that we are currently facing a tremendously changing market. We hear the news and suffer, in many cases, the burden of mortgages.
However, if we are able to afford to buy a property, especially for those foreign investors who are considering buying a second home in Spain to spend the summer months in Spain, the end of summer opens up an interesting range of possibilities.
Below, we are going to analyse the reasons why.
- Increase in available properties: During the summer months, many people prefer to take a break and enjoy their holidays rather than actively looking for properties. This can result in a greater availability of options on the market after the summer. Having more options will allow you to compare prices, locations and features to make a more informed investment decision.
- Possible price reductions: In some cases, sellers may be willing to reduce property prices after the summer. This may be especially true for those in a hurry to sell. By investing after the summer, you may find buying opportunities at more attractive prices.
- Favourable negotiations: at the same time, after the holidays, many people are preparing for the famous “September slope” so the demand may be lower than the supply. Therefore, we may be in a stronger position to negotiate favourable terms and conditions with sellers. Owners may be more willing to accept lower offers or consider additional concessions.
- Research and planning: The post-summer period gives you time to conduct thorough research and carefully plan your investment. You can use this time to research the real estate market, consult with professionals, evaluate financials and consider your long-term goals. By having a well-developed strategy, you will be better prepared to make informed decisions.
As an aside, it is true that the property market can vary according to location and individual circumstances.
We fully recommend you to do the necessary consultations with real estate professionals and carefully assess your own financial needs and objectives.
Why is MAM Solicitors your ideal partner in a sale and purchase process?
MAM Solicitor’s main resource is the professional skills of our legal and administrative staff. Being aware of the difficulties clients face when presented with an unfamiliar legal system (which can be further complicated by the language barrier), MAM Solicitors has assembled a team of staff who are fluent in English, French, Norwegian and Dutch and have extensive knowledge of all aspects of real estate law.
In this respect, we believe that it is important to plan and organise the transaction legally for a successful sale. We do this with all our clients.
MAM Solicitors has proven in over 30 years of experience to be one of the most trusted law firms in Spain by our clients.
Would you like to find out for yourselves.
Don’t hesitate to contact us and enjoy the peace of mind that your trusted law firm in Spain will give you.