We are all in agreement that the property sector has recovered from the economic crisis, which suffered its worst years in 2012 and 2013.
House prices are slowly rising, albeit they are rising a lot quicker in some areas than others, credit is flowing more freely from the banks and houses are selling.
But, how long does it actually take to sell a property on average? Well, that depends on where you live, and on the price, of course.
According to Tinsa, on average a property will sell in approximately 10.2 months. This is already considerably less time than it was only six months ago, at 10.6 months, and especially than the 11.5 months in 2014 and 13.2 months in 2013.
Properties situated in areas where the demand is high, will obviously sell much quicker than those where fewer people want to live.
Research shows that a house will stay on the market for the longest amount of time in Cantabria, where it will take an average of 18.6 months to sell.
Also significantly above the national average are: A Coruña, Ávila, Salamanca, Segovia, Vizcaya and Álava.
And just below these but still above the national average are: Pontevedra, Ourense, Valladolid, Valencia, Castellón, Tarragona, Ciudad Real, Toledo and Guadalajara.
On the other hand, the provinces in which it takes the least amount of time to sell a property include: Ceuta (3.7 months), Melilla, Soria, Santa Cruz de Tenerife, Madrid, Barcelona, Zaragoza and Teruel, all of which are below 7 months.
In summary, it still takes more than a year to sell a property in 20 provinces in Spain, and 30 provinces register at higher than the national average of 10.2 months.
However, the fact that houses are selling once more has affected their prices.
The majority of owners who are selling now are not in such a panic about finding a buyer and therefore will not take the first offer if it is a very low one.
As a result, owners are giving away less discount than before – around 15% - and are refusing to let their property go for ridiculously cheap prices.
This article is sponsored by: www.abacoadvisers.com
Source: www.elconfidencial.com
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