Christmas seems to start earlier and earlier, and while it’s easy to think “let’s leave it to the New Year”, there can be advantages to viewing property in the quietest months of the year. Here we explain why it could be worth your while booking your flight today.
Itching to get your overseas house-hunting project underway? Perhaps the UK’s downbeat Budget statement from the government – or indeed the USA’s government shutdown – has prompted you to acceletrate your plans.
If you’re in the right position logistically and financially, there is no reason to wait until winter is over before jumping on a plane and looking at homes.
Here are some reasons and top tips for starting early. Last weekend I accompanied some buyers on a viewing trip to Cyprus, and the advantages of a December viewing trip soon became obvious.
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View property without the crowds and heat
Buying property overseas should be exciting, but enjoyable. But you need your wits about you and to keep a cool head, in more ways than one. Blinding sun, intense heat, busy streets and traffic jams may not be the perfect recipe for a wise decision.
View properties overseas in winter and you avoid airport queues, high prices and crowds. You can focus on the job in hand – choosing the right property and location for your future.
Our trip to Cyprus in the first week of December was an absolute joy. The weather was like an English summer’s day – around 20 degrees and sunny. There were other tourists there of course, it being a popular winter sun destination, but that simply meant that the restaurants, bars and entertainments were still open. There were no crowds. Parking anywhere was simple and cheap. You could simply enjoy being there, and imagining yourself there.
Better access to properties
In resorts and areas popular with tourists, getting access to properties to do viewings can be difficult in the summer or high season months. They tend to be occupied by either the owners enjoying time in their second home or paying guests renting it for their holidays. Neither will want to be disturbed by potential buyers nosing around the premises.
For this reason, local estate agents prefer to avoid viewing property with clients in peak season. Many will be busy with managing rentals and maintenance for their existing clients.
Better access to professionals
Buying an overseas property involves several legal and financial steps, potentially requiring the input of lawyers, surveyors, IFAs and others. All of these are likely to be less busy in the depths of winter.
Getting a tax number, opening a bank account, speaking to the authorities about planning permission, setting up power of attorney or liaising with a notary, can all be easier if you beat the springtime rush.
Vital procedures such as getting a local tax number, opening a bank account, speaking to the authorities about planning permission, setting up power of attorney or liaising with a notary, can all be easier if you beat the springtime rush.
While Christmas and New Year may be tricky, it’s worth a try at any time in December, January or February. If you want something done, as they say, ask a busy man or woman, and the right professional may be just waiting for you to walk into their office!
In any case, not everywhere goes quite as mad about Christmas. In Cyprus, for example, Easter is a much bigger celebration.
Cheaper, more flexible travel
Our flight to Cyprus was stress-free. True, there was less choice of flights, but our Gatwick to Paphos plane was half empty.
It was also very cheap. Air fares across the months can be a bit of a puzzle. August actually tends to be quite cheap if booked late (most people having booked early) and the desire to get away means from colder climates mean that February can be pricey.
However, prices do drop not just outside of the summer season and holidays, but also the ‘shoulder seasons’ and Easter and school half terms too. What isn’t in doubt is that moving through airports at either end is a less stressful experience, given the absence of families off on their hols. Just beware of winter timetables when the frequency of flights between many destinations can be reduced.
You should also save money on accommodation for your viewing trip. Hotels and privately rented properties, such as Airbnbs, reduce their prices in the quieter months. They also tend to be more flexible over arrival and check-out days and the minimum number of nights you must stay. They’re grateful for any reservations outside of peak season when they make most of their money.
If visiting a development you stand a much better chance of getting subsidised accommodation via your developer if buying off-plan.
When to get the best deals viewing property
Like many things, activity in property markets is seasonal. This is due to user habits and happens pretty much everywhere, the local dynamics dependent on the demographic of the owners and location.
Generally, summer is always quiet in terms of interest and sales, for reasons mentioned above. Many vendors like to max out peak season rental income or their own time at their second home before they sell.
The early spring triggers a wave of new listings, as the world wakes up after winter and there is a sense of new beginnings. But while you’re likely to have a better choice of properties to view, they will be at their highest price – their, “we’ll try it at €300,000 and redice it if thjere’s no interest” level.
Try your luck in December, January or February and there is also a chance of getting a motivated seller – maybe even a motivated estate agent. There could be a deal to be done on any properties that didn’t sell the previous year and have been lingering on the market. Sure, you may not want it either, but at least you have the option.
Reserving a property in the last quarter of the year can also benefit buyers of new-build properties. New phases of developments are often launched in the autumn, giving early buyers the best selection of apartments, villas, or plots. And as the end of the year approaches, developers in European countries may be inclined to offer incentives to get a deal over the line before the end of the tax year on 31st December (unlike the UK’s tax year).
Live like a local
Perhaps the best thing about taking a viewing trip to Cyprus in December was seeing the place you would like to call home as it is when we would be living there. An evening in a local taverna ended up with us being invited to join in a traditional Cypriot dance with a party of local ladies. Ouzo may have been involved.
We got a real feel for how the Cypriots we hope to be living among really live day to day, how they dress, enjoy themselves, shop and relate to each other.
Moreover, everybody had time for us, from shopkeepers to developers to cafe owners to lawyers.
