The Recovery of The Housing Market in Moraira, Teulada, Benissa and Surrounding Areas

It’s fair to say that the world has gone through an unprecedented change in the past few years. Covid-19 has affected so many areas of everyone’s lives. Our agents are constantly being asked how the property market has changed. Sellers are concerned that the market is drying up and values are falling, whilst buyers are trying to use the situation to their advantage and hoping to find bargains.

Both sides the house purchase transaction may be surprised by a survey amongst our members. So let’s look at the facts comparing the first 9 months of 2021 to the same period 2 years prior.

Overall, the market has not only recovered, but in many ways improved. The number of properties sold has increased by more than 30%.  You might think that marketed prices have dropped, but in fact properties are on the whole being marketed at a very close price in 2021, and better still, our agents are reporting that vendors are achieving offers much closer to asking prices. Overall, our associate agents are optimistic about the coming 12 months.

The other major change in the local market could be Brexit. So, we surveyed our associates to find out what has changed with British buyers and sellers.  In terms of buyers, there have been fewer British buyers, but since Covid restrictions have been eased, British buyers have returned. When it comes to selling, there has been a notable surge of British owned properties being listed.

In summary, we’re seeing a solid recovery of the property market in the local area with a marked increase in property sales. This is however, leading to the main concern being expressed by our associate agents: specifically, a diminishing portfolio of property to sell. 

Correct valuations are a vital part of a thriving property market. It’s no longer good enough for agents to value a property based on their subjective “gut feel” etc. Our associate agents have been trained to use an objective approach taking into account multiple factors to come up with a realistic valuation. Perhaps for this reason, vendors are receiving offers very close to our agents’ valuations.

MLS:03724 is committed to adding layers of professionalism and accountability to the local property market. We will continue to track local market conditions, strive for higher levels of professionalism, and work closely together to serve our customers to the highest standards.

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MLS:03724 is a formal association of local estate agencies working in and around Moraira. Started in October 2019 by 5 leading Moraira Agencies, it has grown quickly attrac...
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