Data on offers made by house-hunters collected the the property portal Idealista.com reveals that offers are on average 24pc below asking prices this summer.
I’m not sure how robust are the conclusions you can draw from this news, but I think it will be of interest to people in the market today, either as buyers or sellers. The average discount asked in July was 23.9pc, based on aggregate figures from Idealista.com
The Spanish property portal Idealista.com, which is the biggest in Spain, allows house-hunters to make an offer online for some of the properties listed, and then compares offers to asking prices, showing what kind of discount buyers expect, at least based on their first offer.
The offers are not binding, so you have to assume that some people will make very aggressive offers on the off-chance they get lucky, whilst others will make a better offer once negotiations start, and some are even just having a laugh. Nevertheless, it gives you an idea of the difference in expectations between buyers and sellers today in Spain. No gazumping around here!
The following table shows the average discount asked by region in July, all based on data from Idealista.com:
Malcolm says:
If 24% is the average discount during the busy summer months, then expect offers with a 40% discount during the winter particularly those that are not subject to any financing.