Here are six things that my experience has taught me about selling Las Palmas property.
I see a lot of properties for sale in Las Palmas and can often tell straight away if they will sell fast or sit on the market for ages. The same factors pop up again and again so I’ve put them into this guide to selling Las Palmas property.
Get the initial sale price right
Property in Las Palmas is starting to move again after the crisis years. But, prices are rising at different rates depending on the area.
There are still lots of properties on the market at unrealistic prices. They appear over and over in online searches and get a reputation amongst buyers and agents.
If a property hasn’t sold, people assume that it is overvalued or poor quality. Even if the price drops, buyers always try to negotiate further discounts.
This is why it is important to price your property well as soon as you put it on the market.
- Top Tip: Don’t set a high price just in case a buyer come along. Price your property right and it will sell faster and without the need to discount.
Provide detailed information to buyers
While demand is rising amongst local buyers in Gran Canaria, a lot of sales are to foreign buyers. Scandinavians and Brits outnumber local buyers in areas such as the Las Canteras beachfront.
Foreign buyers also have different expectations from local buyers. At home, they get detailed information about a property when they first see it.
Things like a Nota Informativa, building plans, information about refurbishments, and the comunidad actas.
Most Las Palmas property owners wait until they have an interested buyer before gathering the information. Buyers, and especially foreign buyers, often lose interest before it is ready.
- Top Tip: Provide potential buyers with a dossier with detailed information about your property.
Take quality photos of your property
Poor photos of good property frustrate both estate agents and buyers. They also damage a property’s chances of selling as fewer buyers visit.
Most enquiries now come from the internet and people judge each property based on the photos they see. Dark, blurry and badly framed images create a poor impression and reduce demand.
Las Palmas property photos need to be bright and to show a property looking at its best.
- Top Tip: Make sure that your property stands out online with professional photos.
Declutter and freshen up
When you show your property to buyers, they have to be able to imagine themselves living in it. This is difficult if it is full of personal objects and decorations. Buyers can’t see past the clutter and imagine their own life in the property.
Stow some of your personal items out of sight and make your apartment as neutral as possible for visits. It’s also a good idea to take the dog for a walk during visits. Animals, especially excited ones, put off some buyers.
Be objective about your property and freshen it up with new paint fittings. Talk to a local estate agent before you do any expensive refurbishment. While the right new kitchen can add value, it depends on the property and the style and can be a waste of money.
First impressions count so make sure that the entrance is clean, tidy and smells good.
- Top Tip: See your property through a buyer’s eyes and make it as inviting and spacious as possible.
Advertise your property widely
While a sign in the window generates interest, most property buyers now search online. They often miss good options in their chosen area because they are not marketed right.
Listing your property on a range of websites is hard work, but gets your property in front of buyers.
- Top Tip: The best way to make sure your Las Palmas property is seen is to list it with a quality local estate agent. Choose one that advertises on international portals and is a member of the shared database.
Use a quality Las Palmas estate agent
I recently sold a beachfront apartment in Las Palmas for 340,000 euros.
It had actually been on the market privately for two years at a lower price but didn’t sell. A price study showed that the owners had undervalued it so we relisted the property at the correct price.
I took quality photos and got the property out in front of lots of buyers. It sold within three months and at the asking price.
It’s a good example of how a selling Las Palmas property with a quality estate agent is worth the money.
- Top Tip: Work with a quality Las Palmas estate agent. It’s worth every cent.
Selling Las Palmas Property?
For advice about selling your Las Palmas property, drop me an email or call me for a free consultation.