2021 did not start as promised.
After 2020, which seemed insurmountable in the unexpected, 2021 was quite a battery in about a week:
- Attack on the United States Capitol.
- Snow that paralyzed half of Spain.
- A new strain of coronavirus that threatens public health.
It is true that as a prologue for the 11 and a half months that are still ahead of us it does not leave you wanting much more. Of course, we are bored with what we are told to bore, it doesn’t look like it’s going to happen.
That’s why I thought that in this post we can forget for a while that the world seems doomed to head for disaster and focus on the real estate sector.
After all, that’s the main topic of this blog … although they do send news sometimes.
Dear reader, if you are planning to buy a home this year, I have good news for you: prices will fall again.
Keep a good record of everything I have to tell you, it won’t leave you indifferent.
2020 was the starting point for a change in the trend
The COVID19 pandemic and all its effects hit hard on a sector that had already juggled a few years ago.
Falling sales, shooting rent and forcibly stopping construction activitieswere crucial.
Having said all that, the real estate sector has not had worse times than many other sectors for which the consequences are still invaluable.
However, those who thought that everything would return to normal with the grapes were wrong. During this 2021, the shiver will still be felt.
Of course, at least this time we have the time we need to prepare and receive energy.
Also, if you are in customer side and not with the seller, the story will have a happy ending.
Is the shadow lurking in 2008? Let’s not be catastrophic
Not all. You don’t have to be so catastrophic yet.
Unlike that time, Limited house prices are far from those levels.
Besides, The rate of effort required of anyone to buy a home is also very different and much more reasonable.
If we add to all that that the banks do not offer loans With almost no guarantees, on the contrary, the situation seems to be different.
Therefore, the complicated situation stems not so much from excess funding as from the fact that achieving financial sustainability is very complicated for many people.
So, yes, the situation is complicated, but unlike 12 years ago, we are not targeting an iceberg.
There is no death, but we have chosen fear
However, this better than before, the scenario does not mean that the situation is idyllic. There are many more knots ahead of us.
Finally, since buying a house is related to a person’s purchasing power and ability to borrow,, paralysis u job creation complicates the situation.
Of all the groups that may be affected, young people will repeat this to a greater extent. Or at least that’s what Moody’s rating agency points out.
As I mentioned, how the ability to find a job will be lower – and lower income – access to the apartment will be an almost impossible mission.
And this situation will greatly slow down the sector which will be forced to lower prices in order to become competitive again.
That is, if you need to buy a home, and this crisis has not hit you, you will not find a better opportunity for a long time.
How much will the price of the house fall?
With such an uncertain situation to live in, hitting the descent seems like an almost impossible mission.
However, the report of BBVA Research states that the price will fall for 1.5% this year on average and that the declines will decrease during 2021.
In this same report, the bank notes that recovery will be possible in the second half of the year if the vaccine starts working.
Despite this, other voices who are also very authoritative have repeatedly stressed that they are not as optimistic as the financial institution.
Of all the types of apartments, the most will suffer used case.
As part of the state aid will end in 2021, an owner who can no longer bear his savings will have to sell quickly, and for that he will lower prices.
However, as I repeated throughout the article, this is actually just speculation we are currently doing.
Want to buy a home? Be patient
If you are convinced that 2021 is the year you should buy a home, I urge you to be patient.
I know this is not the answer you want to expect, but I assure you it is the best I can give you.
No data supports that the trend can change quickly, so it is necessary to understand that a little patience can change.
Search our real estate portal for the house you are looking for and activate alarms so we will let you know when the price drops.