Young people gain presence in the purchase of new construction housing
Young people recover land in the new housing sector, according to the 2nd AEDAS Homes Buyer Profile of New Construction Housing. Specifically, this report shows that 23.4% of the promoter's clients in 2019 were between 25 and 34 years old, 5.2 points more than in 2018.
This is one of the conclusions of the study by AEDAS Homes, which through its Data Unit has carried out this x-ray on a sample of more than 2,500 customers who bought any of the company's homes in 2019.
The robot portrait of the current buyer of a brand new home is that of a client of Spanish nationality from 35 to 44 years old, married, who is raising a family and accessing a 3-bedroom apartment for the first time as a habitual residence. All these parameters are very similar to those of 2018, with the exception of the average purchase price, which drops from 351,158 to 316,860 euros.
More affordable, younger
"This information shows that, despite the fact that the age range of 35 to 44 years is the protagonist, the younger age profile gains weight coinciding with a more affordable average price", explains David Martínez, CEO of AEDAS Homes , who highlights the company's commitment to facilitate access to housing for young people.
Martínez hopes that the recovery of the young buyer will continue in this 2020 and next years. "Young people must be the natural demand for new construction housing. The real estate sector and the administrations must facilitate access to a house so that they can once again be the main protagonists. If they do not have access to housing, there is no future."
The promoter's CEO stresses that "one of the objectives of AEDAS Homes for this year as developers is to support and promote access to housing for the youngest". "It is a fundamental challenge for society and whose solution is, among other ways, through public-private collaboration," he declares.
Despite the large increase in young customers, the study confirms that the acquisition of new construction homes is still in the hands, above all, of those over 35 years of age. Specifically, 32.8% move in the age range of 35 to 44 years, 21.9% are between 45 and 54 years old and 12.7% from 55 to 64 years old. Those over 65 years account for 8.3%. In this line, more than half of the clients (56%) are married, 37% are single, 5.8% divorced and 1.4% widowed.
The average age of the buyer stands at 44.2 years, down from 45 years compared to 2018. In the case of first-home customers, the average age falls to 39 years.
Regarding the purpose of the purchase, the habitual residence is consolidated as the majority option, representing 76.1% of the acquisitions, five points more than in 2018. 45.3% of these buyers is the first time that they access a house owned, while 30.8% respond to a replacement customer, that is, those who buy a home that best suits their current needs.
In view of the evolution of the data in this report, David Martínez stresses that "the new construction market is moving towards balance and normalization, covering above all the housing needs of buyers who purchase a home for the first time - it drops three replacement purchase points- ".
Regarding the type of home purchased, the protagonist remains the apartment, although to a lesser extent. Now it accounts for 66% of operations, compared to 74.4% in 2018. It is worth noting that attic operations are up considerably, going from 8.1% to 15.3%. Single-family purchases also increased (from 10% to 13.1%), while low-end transactions with a garden decreased (from 7.1% to 5.6%).
Regarding distribution, almost half (48.4%) have three bedrooms, 22.8% have four and 26.8% have two. There is barely 2% of a bedroom. The average useful surface of the properties sold amounts to 88.7 square meters.
On the other hand, the origin of the buyers is another of the relevant points of the study. According to the conclusions, it maintains the rate of Spanish buyers, with 83.2% and a preponderant presence of Madrid, Barcelona and Seville, three provinces where the activity of the developer is focused.
The remaining 16.8% are foreigners, with China in first place to the detriment of the United Kingdom (7.7%), which falls to third place, slightly behind German customers (7.9%).