With Covid19 around the corner, many of you might have doubts about buying a property, even though there are reasons and facts that reveal the identity of the 2021 market in real estate is bright.
During this pandemic property valuations are at realistic levels, mortgage rates are at the lowest, and now developers are offering flexible payments. At RE/MAX we believe that any time is the right time to buy as long as you buy at the right price at any given time. At RE/MAX we make sure we undertake properties that are not overpriced in order to have value for money options for our buyers.
Wondering if it is wise to purchase a property now? The answer is yes!
However, you should take such a decision in case you are having enough savings to fund at least 30% of the cost of the property.
Due to the low inventory levels and high demand from investors for great deals, the prices are expected to rise gradually during 2021, but the good news is that the variety of homes to choose from will increase as well because more new constructions should enter the real estate market.
2021, as was also predicted from analysts worldwide, will see more property sales than any year since 2006. RE/MAX Cyprus has an average of 6 buyers leads for every 1 seller lead, which means that inventory will continue to be low. Annual sales growth will increase to over 10% this year.
If you are still not sure about making a decision of buying a house alone then make sure to talk to a RE/MAX real estate agent in your area. RE/MAX agents are always on duty and can assist you through phone calls and video chat to understand your needs before going on property viewings.
They’ll be able to help you with the conditions in your specific housing market, your general questions, and market updates.
An estate agent will also guide you through the whole process of purchasing a property step by step.