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Friday, September 8th, 2017

Is September the best month to buy a house?

If you are waiting for the right moment to make a real estate transaction… The time has now come

Interior of a design house

The summer bids us farewell, and with it the beach binges, the hot afternoon naps and the intense beach bar nights. It’s time to ask more practical questions, without detracting from the previous ones, and start the new season with a vision of the future.  Those, who during spring saved more money in order to start searching for real estate in the winter and then interrupt the search for the summer season, will discover that autumn is, in fact, the perfect time to materialize the acquisition of a property. According to the different industry analysts, September is the best month for the purchase of a property.

This is not only a sentimental issue (September is the month when the academic year starts, and when many people return to work and back to the normal routine and obligations), but also an augmented decision. Whether you are searching for a primary residence  or a second home, the later normally somewhere where the weather is nice, during September competition is declining, prices are lower and the access to credit is better. As a future investment, it’s the right time to look for long-term profitability so if you have the money saved, don’t hesitate and take advantage of the real estate market update.

An important factor to keep in mind when buying in September is the slight decrease in property prices, which can cause a paralysis of the transactions during the month of August. According to statistics from the property search portal Nuroa, this drop can range from 30 to 190 euros per square meter.  Although it will continue to fall as the months pass on, the amount of properties for sale will be reduced and less interesting. It’s convenient to be alert to detect good opportunities.

Buildings of the university zone of Valencia

On the other hand, banks compete with each other by offering good offers to their clients, so mortgage products are usually more interesting. For now, the market trends are changing. A study developed by the price match site HelpMyCash confirms that the new fixed rate mortgages will still continue to be the great bet of banking in 2017, an idea reinforced by the Spanish National Institute of Statistics data, which warns that 4 out of 10 mortgage loans are of that type.

In any case, it seems that the real estate market reappears whatever the time of year. At the closing of 2017, the sale of properties promises to reach 500.000 operations, according to the forecasts of the BBVA research report. This implies a 10% increase with respect to last year. Likewise, the prices of the real estate will grow between 3% and 5% in 2018, as provided by Bankinter, so you can take advantage of the remaining month of this year, because there will be no such opportunity.

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