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House Prices - rising?

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House Prices rising?


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Message posted by pete b on 11 July 2006 at 8:27pm - IP Logged Legal Disclaimer Corfu Photos
pete b
Corfu
Does anyone know if there are any figures available for how house prices are moving, if at all on Corfu, specifically the NE of the island.

Message posted by Mike & Sue on 12 July 2006 at 2:40pm - IP Logged Legal Disclaimer
Mike & Sue
Corfu

Good question!

I would make the comment that they become more expensive during the summer (similar to open top cars I guess) and that price trends will reflect those in the country from which the buyer originates.  Having kept a careful eye on such matters the Corfu prices do seem to be performing well at the moment. There is a general trend for 2nd homes oversea's but us brits tend to look for 'investment return' above anything else and there may be a move to other countries.

If you are purchasing because of your love of Corfu you may wish to think about doing it in the winter months when there will admittedly be less available on the market but there will also be fewer buyers around and maybe it is easier to get a better deal.

 

Mike

 

 


Message posted by Susanna on 12 July 2006 at 7:32pm - IP Logged Legal Disclaimer Corfu Photos
Susanna
Corfu
Sorry to disagree, Mike, but as far a I know, prices do not change at all from season to season. Anything reasonably priced sells very quickly, other properties hang around for years. Owners quite often ask unrealistic prices - as, of course, they are entitled to do - but then their houses don't sell, and sometimes it makes it appear as if properties are "worth" the asking price, which doesn't necessarily follow.

Having said that, prices are rising, and demand is high.

Susanna

Message posted by John and Hilary on 12 July 2006 at 8:11pm - IP Logged Legal Disclaimer Corfu Photos
John and Hilary
Corfu

Hi All ,

As Susanna states , reasonably priced properties sell quickly , moreso the older village type properties .

The luxury villa type new properties over the € 500,000 mark are very , very slow in moving . The location and design / fittings have to be A1 to even stand a chance of selling .

People looking for property in that range think , Hey , we can buy the land and build for € xxxxxx less than that . What they do not take into account is the length of time / stress / visits / research / paperwork / accountancy / etc . that actually go into building your own place from scratch . Fine  , if you have 3 years to waste .

Regards.......J&H



              

Message posted by Soko on 12 July 2006 at 8:51pm - IP Logged Legal Disclaimer
Soko
Corfu
It wouldn't be a waste of time if you end up with something you want.

Message posted by John and Hilary on 12 July 2006 at 10:21pm - IP Logged Legal Disclaimer Corfu Photos
John and Hilary
Corfu

Soko ,

You are obviously a person of few words . Can you expand on your comment ?

regards....J&H


Message posted by sc on 12 July 2006 at 10:51pm - IP Logged Legal Disclaimer Corfu Photos
sc
Corfu
When we started looking for a property 6/7 years ago there were only very old properties that required extensive work to make them habitable. We did not possess the skills to arrange and manage this kind of project from a distance. Our Greek friends suggested we by land and build, this also seemed very daunting. We did though acheive this in a relatively pain free manner. I personally though would have prefered (at that time) to find something I could purchase already completed. However this has now become very popular, this is evident by the amount of regulars to this site that have built or are building in Corfu. This will surely, in a few years time change the market place, with people who have built now deciding to sell, and people looking for houses in Corfu faced with the prospective of being able to by a relatively new home already built.

Message posted by John and Hilary on 12 July 2006 at 10:59pm - IP Logged Legal Disclaimer Corfu Photos
John and Hilary
Corfu

Hi Sylvia ,

That is part of what I was trying to say , well put

LOL......J&H


Message posted by sc on 12 July 2006 at 11:59pm - IP Logged Legal Disclaimer Corfu Photos
sc
Corfu
Thank you for that John and Hilary - I know you agree that as purpose built homes come on the market they will attract attention from overseas buyers, because as it turned out, wrongly that was what I was looking for, because that was what I was used to. I am glad now I had the chance to decide on the planning of my house

Message posted by pete b on 13 July 2006 at 12:01am - IP Logged Legal Disclaimer Corfu Photos
pete b
Corfu
Ok, thanks for all the replies above. It would be very interesting to know if anyone had bought a renovated, or newly built property in the last 2 or 3 years and then sold it on. If so did they manage to show a profit?

We have noticed that there are quite a few unrenovated properties which have dropped in price since last year, presumably this is a reflection of the views above that a property needs to be fairly priced to sell.

Any more comments on this subject would be most welcome.




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