Tweet me!There is an article in Europa Press where Aguirre Newman (a ´consultant´ but not specified where from) suggests that if property owners really want to have a chance of selling their property, they need to drop the price by 23%. While the market house prices have not fallen by that much over recent months, she believes this a realistic correction that will allow potential homeowners the chance to buy without allocating more than 30% of their earnings to their mortgage.
Not good news for those who were hoping to make a nice tidy profit from their property. However, in Huelva we are certainly seeing those kind of price drops from owners to just want to get rid of the burden of a second mortgage. For example, villas in Nuevo Portil currently selling off-plan for 670,000 euros while some owners are offering their built villa for just 480,000 euros! Of course, they can afford to do this because they bought years ago so will not be actually losing any money.
It can be hard to let go when you know that if you held on for a couple of years the difference in price could be substantial. But is the ´possibility´of making lots of money worth the gamble, not to mention the stress of surviving those two years?
via: Europa Press
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