Out last evening playing pool.
Heard this that their is a stop of four months of buying and selling you house now in Greece?
Has someone in the know heard this as well.
Ray.
Message posted by SpearTravels on 18 November 2011 at 12:35pm - IP Logged
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I was talking to an estate agent this morning about ease or otherwise of selling property Ray and she didn't mention it... So many rumours flying about at the moment!
Message posted by Ray and Gisela on 18 November 2011 at 2:29pm - IP Logged
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OK why is the analysis wrong?
According to this report http://www.globalpropertyguide.com/Europe/Greece/Price-History
residential real estate sales throughout Greece fell by 39.1 percent in the second quarter of 2011 and prices everywhere are falling. Wherever that happens (and that includes the UK) buyers are reluctant to buy until they feel the market has bottomed out. People have various motivations for buying but in reality most people wpuld not spend £200K now if they felt the same property might be worth £150K in two or three years time. It might be unpalatable, but I think it is a realistic scenario
Message posted by Bill on 18 November 2011 at 7:27pm - IP Logged
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Not sure whether I fully understood Ray's original post - I thought he meant that there was a ban on any house sales for the next 4 months, but on revisiting it perhaps he meant that house sales have been static for 4 months! Sorry Ray
In any event, to answer Wynne's question, the agent said that no property was moving at the moment. I had a tentative enquiry about my house, which isn't actually on the market but I am moving out, and the agent said if I was interested in selling I should grab the opportunity because they were few and far between at the moment, and things look likely to get worse!
Message posted by Ray and Gisela on 18 November 2011 at 7:49pm - IP Logged
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No the person said that all sales were on hold, how they could do this I am mist.
As Bill said another wind just posted it to see if someone had heard it as well.
We are still building the house so its not up for sale.
Ray.
Message posted by Lavinia on 18 November 2011 at 7:59pm - IP Logged
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I honestly wouldn't listen to anything like this, Ray. There are so many rumours flying around and misinformation being passed on at the moment, it is very hard to work out what is fact and what is fantasy. I suspect that 95% of the "rumour mill" is fantasy. If we listened to everything we are told and took it to heart, we would all go completely mad. I would ignore any such rumour.
Stay safe and happy (after all you are living in a very beautiful place) and I send you best wishes
Message posted by Ray and Gisela on 18 November 2011 at 9:07pm - IP Logged
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Hi Lias me mad never mumble mumble now what was I saying.
I thought that but somethings just seem to pop up like the Luxury car tax, spoke to a frend and he had just payed on his car 270€ extra car tax this was on top of his normal year tax.
Ray
Message posted by DCV on 18 November 2011 at 9:26pm - IP Logged
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We have been looking for a house on the island to renovate for the past four years, and we will wait longer until the prices stabalise. What has happened over the last few years is sad, and Corfu has been effected as everywhere else.
Currently, property for "renovation" is still being advertised at 2007 prices, in the vain hope that they will sell. These prices were over-inflated back in 2007 because there was a property boom, mortgages were plentiful and easy to get, and building materials were relatively cheap.
Now things are different. Mortgages are now dearer, resale values are down, the cost of building materials have leapt, and just for fun the Greek government has brought in the new taxes.
Cash is now king, and prices of this type of property will need to drop by at least a third before people start investing in them again.
This is bad news if you need to sell a property at the moment, and more and more will be in this situation before the end of next year.
Sorry to be a Job's comforter, but that is the situation we are all in.
Nick
Message posted by Dave and Kerry on 19 November 2011 at 12:30am - IP Logged
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Had mail today from CPA with 3 properties for sale 269k Euros, 580k Euros and 475k Euros reduced by 100k euros!! So looks like houses on the market but at these prices they may be there some time.
Message posted by suffolk-steve on 19 November 2011 at 6:58pm - IP Logged
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Is there a true property valuation on the Island, I know some area's are better than others, but the prices seem to be set by the seller not an estate agents valuation.
Some "renevation" properties are truely over priced seem to think of a number, and put a few 0's onto it
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