House Hunting in the New Normal

The pandemic has changed how we’re living, our priorities and our outlook on what we want from a home. Property hunters need to be prepared for how these changes will affect their search and also consider their new essential must-haves in the post-COVID era, so this month we’re answering your questions on how things have changed and what to expect.

WORDS SEAN WOOLLEY, SPANISH PROPERTY EXPERT AND AUTHOR OF FROM THE GROUND UP

Q. If I am unable to travel to Spain, do international real estate agents offer virtual home tours?

Virtual viewings have become the “new normal” for overseas real estate agents. We have been using them so that our buying clients can effectively shortlist properties from the comfort of their own home, with the aim of physically viewing their selected options when they are able to comfortably travel to Spain. For clients who are already well-researched and familiar with an area, there has sometimes been no need to physically visit. Armed with a high-quality camera, a gimbal and a wide-angled lens, we have been able to conduct live walk-through video chats and to produce beautifully edited videos which are almost as good as the real thing. We have been able to sell a number of high value properties purely based on virtual viewings and we expect this trend to continue even when travel restrictions lift.

Q. What is the mask etiquette when touring properties?

Spanish law requires the wearing of face masks in all public spaces, and this also applies to property tours. When we take clients out on viewings, we are armed with extra masks and hand sanitiser. We tend to restrict the length of our tours to four or five properties at a time as we have found that most clients (as well as our property consultants) find mask-wearing too restrictive after 3 or 4 hours of constant use.

Q. Are there lots of bargains to be had now?

This pandemic has caused some pricing corrections on previously over-priced properties and there will be some good deals to be found, but do not expect general discounting in the market. We expect to see some developers offering price reductions in 2021, but don’t think these will be widespread because demand has held up pretty well, despite the pause in the market caused by lockdown. Based on the buyer response to the lifting of travel restrictions last summer and how serious and committed those buyers were when they did come, I'm expecting something similar in quarter two and quarter three this year. When people can travel again we expect to see a spike in visits, tours and very importantly a high quality of clients, as they've had so much time to do their research and are prepared to buy. This may actually cause prices to increase as buyers compete for quality properties in highly regarded areas.

Q. How has the trend for homeworking affected international buyers?

Due to the fact we were all forced to work from home due to COVID and everyone has seen how well it can work, I have already seen a change in buyers who want to use this new trend and increased job flexibility to their advantage, using their Spanish property as a full-time base and commuting back to work as and when they are needed in the office.

Of course, it depends on how flexible your boss is, where you’re based and how well you work from home, but it’s definitely an option for buyers working in the UK, Ireland, Italy, France and Northern Europe. I’ve had clients buy a holiday home and then realise that they prefer the Mediterranean lifestyle and that the lower cost of living means that taking regular flights and perhaps staying in an Airbnb back ´home´ every month makes financial and practical sense, so it is well worth considering as part of your purchasing decision.

Q. What are the most popular features buyers are looking for in the new normal?

Priorities are changing as we spend more time at home and may need to do so for some time. Buyers want more internal and external space, gardens and terraces are more important, rooms such as home offices and gyms and private facilities like pools and spas are more desirable than ever since the public facilities may be closed.

Sean Woolley is the Founder and Director of leading real estate agency Cloud Nine Spain. For more information, top tips and tricks to ensure your Spanish property purchase goes smoothly, search for his book From the Ground Up – The Insider’s Guide to Buying Spanish Property on Amazon.