Spain’s housing market is experiencing a rapid shift with express property sales on the rise: 13% of homes sold in under a week past summer. Cities like Granada, Girona, and Pamplona lead this trend, reflecting a growing demand for swift real estate transactions.
The phenomenon of express property sales, where homes sell within a week, is reshaping Spain’s property landscape. A recent study by Idealista revealed that 13% of properties sold in the third quarter of 2024 fit this category, mirroring last year’s trend. Cities like Granada (25%), Girona (22%), Pamplona (20%), and Cuenca (20%) led in rapid sales, while Teruel, with no recorded express sales, and Zamora (4%) marked the lowest rates.
Breakdown of Sales Durations
The study outlined varied timelines for home sales:
- 13% of properties sold in under a week (express property sales).
- 16% sold between one week and one month.
- 24% sold between one and three months.
- 33% required three months to a year.
- 13% remained on the market for over a year.
This shows a healthy balance between swift and longer-term transactions, with express property sales contributing significantly to the market’s fluidity.
Variances Across Cities
While Granada topped the list, other cities like León (19%), Madrid (18%), and Valencia (18%) also saw strong express sales activity. On the flip side, cities like Ourense (4%) and Lugo (5%) reported slower movement. A notable decline in express sales was observed in 15 cities compared to last year, particularly in Teruel, which dropped from 27% in 2023 to zero this year.
Provincial Insights
Granada led at the provincial level too, with express sales accounting for 22% of transactions. Madrid (18%), Álava (16%), and Valencia (15%) followed suit. Conversely, Teruel (2%), Zamora (4%), and Lugo (4%) saw minimal quick sales activity.
Changing Trends and Implications
Express sales are growing in some areas, such as Cuenca, which leaped from 2% to 20%, and Melilla, rising from 5% to 18%. However, declines in cities like Huesca (from 30% to 11%) reflect regional market dynamics.
What This Means for Buyers and Sellers
The continued rise of express property sales underscores the increasing efficiency of digital platforms like Idealista in connecting buyers and sellers. For those looking to capitalize on this trend, strategic pricing and effective marketing are key. As regional variations highlight opportunities and challenges, express property sales will remain a crucial indicator of Spain’s dynamic housing market.
This article is brought to you by Expat Hub Valencia, a property buying agent in Valencia. Using the Expat Hub’s services, you will be able to successfully navigate Valencia’s complicated property market in no time.
© Express Property Sales: A Rapid Shift in Spain’s Real Estate Market – valenciaproperty.es
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