Selling a property in Las Palmas de Gran Canaria can be a complex process. The real estate market in this vibrant island city is dynamic, offering unique opportunities for both sellers and buyers.
To achieve a successful and profitable sale, however, it is essential to follow the right steps and prepare thoroughly before listing your home. Discover how to sell a property in Las Palmas de Gran Canaria.
- What to do before selling a house in Las Palmas de Gran Canaria?
- How to know the value of your property
- The real estate market in Las Palmas de Gran Canaria
- Estimated time to sell a house in Las Palmas de Gran Canaria
- The price per square metre in Las Palmas de Gran Canaria
- Potential buyers in Las Palmas de Gran Canaria
- Documents needed to sell a house
- How to choose the right estate agent?
What to do before selling a house in Las Palmas de Gran Canaria?
Before putting your home on the market, it's crucial to take a series of steps to ensure a smooth process and secure the best possible price. The first step is to carry out a proper property appraisal. This valuation will help you set a competitive asking price that will attract potential buyers.
Another key aspect of preparing for the sale is ensuring the property is in optimal condition. This means making any necessary repairs and considering improvements that could enhance the home's value. It’s also important to gather all the required documentation.
How to know the value of your property
Knowing the true value of your home in Las Palmas de Gran Canaria is a crucial step before putting it up for sale. To accurately appraise your property, it's important to consider various factors, such as its location, size, condition and any unique features it may offer. Additionally, local market trends should also be taken into account.
For a quick and efficient estimate of your home’s value, you can use the online tool provided by idealista. This tool helps you determine how much your home in Las Palmas is worth by analysing real estate market data and offering an approximate valuation based on the details you provide about your home.
The real estate market in Las Palmas de Gran Canaria
The real estate market in Las Palmas de Gran Canaria has seen several fluctuations over the past year, which have directly impacted property sales. However, it is currently showing signs of a gradual increase in housing demand.
In terms of percentage, property values have risen by 10.3% year-on-year as of September 2024, with a 3% increase in the past three months and a 1.4% rise in the last month. This data suggests a clear upward trend in the market, which could benefit sellers.
Estimated time to sell a house in Las Palmas de Gran Canaria
The time it takes to sell a property in Las Palmas de Gran Canaria can vary significantly, depending on factors such as location, market conditions and the property's characteristics.
According to a recent idealista report, more than half of homes in Las Palmas are sold in under three months (55.4%). Within this period, the most common time frame for a sale is between one and three months (25.28%). A substantial number of properties are also sold between three months and a year later (34.94%).
The price per square metre in Las Palmas de Gran Canaria
The price per square metre in Las Palmas de Gran Canaria is essential information for every seller looking to set a competitive and attractive price. As of September 2024, this value stands at €2,372, although it can vary depending on the specific area of the city.
For instance, neighbourhoods like the Centre or Vegueta tend to command higher prices, often exceeding €2,500 per square metre, due to their popularity and unique features. In contrast, areas such as Carretera del Centro or Cono Sur (Southern Cone) have lower prices, around €1,200 per square metre, since they are further from the city centre.
Potential buyers in Las Palmas de Gran Canaria
Understanding who the potential buyers are in Las Palmas de Gran Canaria and what they seek in a property can help you tailor your marketing strategy and property presentation. Here are the types of buyers you may encounter.
- Local families looking to change residence and improve their quality of life within the same city.
- Professionals who relocate for work and seek convenience and accessibility to shopping and business areas.
- Investors interested in the property's rental potential.
- European retirees looking to enjoy their final days are attracted by the local climate and culture.
Documents needed to sell a house
Selling a home in Las Palmas de Gran Canaria, as well as throughout Spain, requires several essential documents that must be prepared and kept up to date to ensure a smooth process and avoid any legal complications.
Key documents include the property deed, which proves your ownership of the property. It's also important to have the latest receipt for the Property Tax (IBI) payment, as well as an energy efficiency certificate, which is legally required for selling a property. Additionally, it’s advisable to have an updated floor plan of the property and, if applicable, the first occupancy permit, which confirms that the home complies with urban planning and habitability regulations.
If you've recently carried out major repairs, you’ll also need to have the relevant building permits available. Finally, make sure to factor in all the expenses and taxes associated with selling a home.
How to choose the right estate agent?
Selecting the right estate agent is a crucial step in the property selling process, particularly in competitive locations like Las Palmas de Gran Canaria. A reputable agent will not only help you achieve a fair price for your home but will also streamline the entire process, from listing to closing the sale.
To simplify this decision, idealista offers a highly useful tool that enables you to find estate agents near you. This tool analyses a vast database of agents and provides you with a list of the most suitable options based on your location and the specific features of your property.
