There is an Ideal Home Show in Spain too (or similar) which takes place from 23rd to 25th of October. Next year 2016 (just around the corner) will take place from the 5th to the 8th of May which it is called the SimaExpo and normally takes place in Madrid.
In this article I will try to analyse the statistics which are beginning to emanate these days from the show, to see if it will give us some insight as to the general tendencies on type of dwellings, public etc.
The type of people buying properties are…
The predominant buyers at the autumn housing Sima 2015 are families with children who seek to change their property by a larger one (36.1% of the total).
According to the survey at the end of the show, the percentage of people who spend more than 50% of their income to pay for a house are reduced by four per cent.
This Sima Autumn, Exhibition which was held in Ifema, closed its doors with a very positive, both from the exhibitors and the organization itself, confirming the good feelings that the housing market is recovering long last. Both sides agreed to assess the type of visitors, with the idea of analysing the commitment to buying and the expectations that visitors had on the property market.
This positive assessment is confirmed by the survey data that the event organizers have made public, obtained from last May to the end of October. During that time the profile of the house buyer has undergone some changes.
Active search for a property.
A good sign in the line that points to a clear recovery in demand is that decision deadlines are shortened somewhat. Continues to increase the percentage of visitors who report wanting to buy a home "as soon as they find what they are looking for," up to 13 percentage points higher than in the Sima edition survey in May. Another significant finding is that more than half of those interviewed said that they have started an active search "less than six months ago."
With the new buyer profile it has also arrive a change in the type of property they are looking for. If during the boom and the early years of the crisis, the dominant profile corresponded to a young buyer who longed to be independent or having a home with a partner, now prevails the older buyer, with children and with a more comfortable financial position.
According to the survey data, a replacement house stands as the majority option according to those interviewed, 36.1% say they want to buy to "improve their existing house", seven points more than in May. This percentage is six points higher than those who want to "change from renting to owning a property" and at great distances (22 percentage points) of those who want "to be independent". Those who desire to improve their current housing are the majority (58.3%) and are in the age bracket of 36 and 45 years old.
Three bedrooms property is the most demanded.
With regards to the type of dwellings, the three bedrooms is the most demanded (60.6%), while four is the largest increase (6%) over the previous Sima scores.
Moreover, the survey also recorded a slight increase in the number of younger visitors to the fair (25 to 35 years old) that at this show represented 45.2% of the total. Thus, after a period of six years in retreat (which went from representing 65.7% to 41% of the total), the younger buyer recovery begins to consolidate.
On the budget that visitors were willing to invest in buying a house, the survey moves around similar parameters to those recorded in the May show. The upper range (over 300,000 euros) remains virtually unchanged, while significantly improving on the intermediate range (between 150,001 and 300,000 euros), which rose from 55.2% to 60.5% of of those interviewed, and a reduction on the lower end of the market ( 150,000 euros), from 22% to 16.7%.
Also the funding needs move along the lines that they had on the May Sima show, reflecting the arrival of a more solvent buyer who therefore needs, to borrow less. Thus, in the Autumn Sima survey it is reduced by four percentage points those who will spend more than 50% of family income to pay for home.