• Culmia presents a new report that gauges opinions and analyzes the homebuyer experience in Catalonia, from the initial search to the signing of the purchase agreement.
• 54% of Catalans prefer an apartment, followed by a house at 40%, a penthouse at 24.5%, a home in a gated community at 20%, and a condo at 18.5%.
• People over the age of 35 account for the largest share of home purchases, with those over 65 leading the way (66.7%).
• For 1 in 2 people, the lack of options within their price range and thescarcity of properties in the area they are interested in are among the main challenges they face when searching for a home.
• In general, the budget in Catalonia ranges from 100,000 to 200,000 euros (44.5%). Additionally, 28.5% would have a budget exceeding that amount. Only 5.5% would allocate up to 400,000 euros.
• Scientists are the most desirable type of neighbor for Catalans, followed by businesspeople and actors.

September 28, 2022.—The pandemic and the effects of lockdown have changed the priorities of homebuyers in Catalonia at every stage of the process, from the start of the search to the final closing of the purchase. This is demonstrated by the findings of the report “The Homebuyer’s Journey in Spain” by Culmia. Prepared by the polling firm Sigmados, 2 the report provides a current snapshot of the profile of homebuyers in Spain and its autonomous communities.

The report reveals that more than 40% of Catalans admit they are currently considering moving to a new home and, in general, prioritize larger spaces, the availability of a terrace or garden, or even the chance to live in a quieter area.

This search for larger living spaces is primarily driven by the average profile of today’s homebuyer, the majority of whom—60.5%—have households with three or more members, followed by couples, at 30.7%. In contrast, only 8.7% of people currently looking for a home live alone.

According to the report’s data, 64.7% of respondents said they had at some point searched for a home to buy, and of those, 49% ended up purchasing one. In general, people over the age of 35 are the ones who purchase the most homes, led by the group of those over 65, at 66.7%.

For the most part, people who are looking for a new home already own their own home. More than half—54.5%—are homeowners, and only 14% are looking for a home while still living in their family home. Notably, 31.5% of people are currently renters looking to buy a home, in line with the current trend in the residential market.

 

What kind of housing do Catalans want?

The housing search in Catalonia focuses primarily on owner-occupied homes; however, within this category, there is a distinction between the search for newly built homes (41%) and pre-owned homes (34.5%).

By age group, it can be seen that people over 65 are more likely to choose newly built homes for ownership, as is the 46–64 age group, although this option is practically tied with second- or third-hand homes for ownership. Apartments are the most sought-after option, at 54%, followed by single-family homes at 40.5%, penthouses at 24.5%, homes in gated communities at 20%, and condos at 18.5%. As for their preferences, spacious homes are favored , with three-bedroom units being the most sought after(57%), followed by four or more bedrooms (23%), and two-bedroom units (19.5%).

 

Main reasons for moving

The pandemic has shifted the priorities of the typical homebuyer, and along with more spacious homes, other factors beyond the interior itself are now valued. Among the main reasons that have prompted Catalans to start looking for a home, 24% cite the possibility of living in a quieter area, while 22% say they would like to have a terrace or garden at their home. A lack of space (17.5%), the opportunity to own a newly built home (16.5%), or living in an area with better transportation links (13%) are the other reasons for the search.

When it comes to location, potential buyers are generally reluctant to relocate or make moves that involve long distances. 35.5% say they are looking for a home in the same city and even the same neighborhood where they currently live; 26.5% want to live in the same city but in a more central neighborhood, and, similarly, 22% would like to live in a more central part of their same metropolitan area. Conversely, 10.3% are looking for a home in the same metropolitan area but farther from the center, and 17.5% are looking for a home farther from the center within their current city. However, 13.8% are looking to move to another city within the same autonomous community, and only 5.4% are looking to move to a city in another region.

The impact of the pandemic and changing needs are also reflected in the factors that are most highly valued when deciding to buy a home. In addition to price and location, Catalans rank having a larger home and the possibility of a bright, private terrace as their third priority. Theavailability of parking and a storage room, as well as having good neighbors, are the other two major factors influencing the decision.

Search Process: Influence of Family and Friends and Greater Digital Impact

Catalans tend to seek advice and guidance from the people they consider closest to them. Sixty-four percent acknowledge that they value advice from family and friends the most when making decisions, while 38 percent say they value advice from a professional in the field more highly.

Among the most commonly used methods for starting a home search are digital channels, and specifically, those specializing in the real estate sector are gaining more and more ground. Sixty-eight percent say they conduct these searches through real estate portals, 30% use Google to find options, and 26.6% visit developers’ websites to review their listings and/or consult a real estate agent. It is noteworthy that 19% consult friends directly to help with their search.

Finally, 18.5% and 7% use channels such as social media and outdoor advertising, respectively.

With regard to advice and support, Catalans consider the role played by real estate agents throughout the home-buying process to be significant. The aspects most highly regarded in relation to real estate agents are their product knowledge and advice on down payments and taxes, both at 25.6%.

A fast purchasing process and quick quotes

The time spent looking for housing generally ranges from 1 to 12 months, with 1 to 3 months being the most common duration, and the youngest group spending the most time on the search.

The main challenges they faced during their search were, for about 1 in 2, a lack of options within their price range and a shortage of products in the area they were interested in.

In general, 44.5% of respondents in Catalonia set their budget at between 100,000 and 200,000 euros, while 28.5% said their budget would exceed those figures. Thus, budgets of up to 100,000 euros fall in the middle range, accounting for 19.5%, while only 5.5% would be willing to allocate up to 400,000 euros.

In addition, for 48% of people who bought a home, their budget was on track and they did not notice any deviation; 20% said the purchase was 10–20% cheaper, and for 18.4%, it was up to 20% more expensive.

 

What do Catalans do when they get home? Who would be their ideal neighbor?

The report also highlights some interesting facts about how Catalans behave at home, many of which are related to the “new normal” following the end of the pandemic. In fact, 32.7% of those surveyed say that the first thing they do when they get home is take off their shoes. Putting down their keys (22.3%) and greeting their family (20.1%) are the second and third most common responses, respectively.

When it comes to Catalans’ preferences for neighbors, 22.7% would like their neighbor to be a scientist; 15.5% would like them to be a businessperson; and 12.6% would like them to be an actor.