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slowing down
slowing down
report from one source re the state of the property market in portugal
see here
http://www.propertywire.com/news/europe ... 45204.html
see here
http://www.propertywire.com/news/europe ... 45204.html
Re: slowing down
No mention of the poor exchange rate to the £. This must be a factor in the Algarve. Mind you, if you can manage to sell in euros and convert back to £'s its great.
Re: slowing down
The company I do some work with has seen a real increase in activity this year and more properties sold.
OK so the English and the Irish are few and far between but the main reason is in the " New Property " sector developers are being " Realistic " when it comes
to accepting offers.
You get more for your money with a new property and owners of resales should make themselves aware of this and price accordingly.
In the resale market of course sellers are finding it much tougher but we are seeing reductions of 30% plus from UK sellers , if they are taking the money back to the UK it may not turn out to be as painfull as they thought.
OK so the English and the Irish are few and far between but the main reason is in the " New Property " sector developers are being " Realistic " when it comes
to accepting offers.
You get more for your money with a new property and owners of resales should make themselves aware of this and price accordingly.
In the resale market of course sellers are finding it much tougher but we are seeing reductions of 30% plus from UK sellers , if they are taking the money back to the UK it may not turn out to be as painfull as they thought.
Re: slowing down
The people next door to us are still selling their 3 bed villa. It's been on the market for nearly 3 years but they haven't reduced the price at all. They're asking nearly 3 times what they must've paid for it. 
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Bristle Si
Re: slowing down
The term "Reality check" comes to mind here - if the property is not selling, over a period this long and there's nothing wrong with it in terms of structure, location, etc then it's overpriced - simple as.mac wrote:The people next door to us are still selling their 3 bed villa. It's been on the market for nearly 3 years but they haven't reduced the price at all. They're asking nearly 3 times what they must've paid for it.
Too many sellers get into the frame of mind "I'll wait 'til the property market recovers" - trouble is with Europe in such deep financial mire any true, sustained 'recovery' may be years away.
If they're not too desperate to sell then they're probably fairly relaxed about the situ, but if their circumstances require more urgency to sell at some point soon, they'll have to accept the market conditions and reduce price.