Engel & Völkers is predicting a serious surge in home sales in Madrid, some 20 percent increase in transactions.
According to Engel & Völkers, there will be a significant increase in home sales in Madrid, with a 20 percent rise in transactions.
According to a report from Germany-based global real estate brokerage Engel & Völkers, a surge in home sales is on the horizon in Madrid, fueled by economic vitality, increased coronavirus vaccination rates, and low interest rates.
The Spanish capital has seen increased investment interest in recent months, and the estate agency predicts a 20% increase in home sales in Madrid and a stabilisation of property prices in the coming year.
“At the start of 2021, we saw a significant increase in demand as well as a high transaction volume,” said Sonia Catalán, head of sales at Engel & Völkers Madrid City Centre, in the report.
“We anticipate pricing to remain stable or climb steadily,” she said, adding that sales had increased “faster than expected.” “When compared to other European capitals such as London or Paris, Madrid has a very competitive real estate market. This makes the city a particularly enticing investment site for both domestic and international purchasers” Ms. Catalán said.
According to Engel & Völkers, coronavirus lockdowns have led to an increased desire for larger homes with outside space, such as a terrace, garden, or balcony, as well as properties with a place for working at home.
Ms. Catalán stated, “Models for flexible working today mean that many of our clients may work remotely from home.” As a result, many purchasers consider characteristics such as a patio, an extra room in a city apartment with enough space for an office, and a good internet connection to be essential.”
According to the survey, the same criteria are driving demand and progressively growing values in Madrid’s suburbs, where closeness to the countryside and strong infrastructure provide a high quality of life outside of the city centre.
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