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 ú200K now if they felt the same property might be worth ú150K in two or three years time. It might be unpalatable, but I think it is a realistic scenario
Message posted by Bill on 18áNovemberá2011 at 7:27pm - IP Logged
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 18áNovemberá2011 at 7:49pm - IP Logged
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.
Message posted by Lavinia on 18áNovemberá2011 at 7:59pm - IP Logged
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 18áNovemberá2011 at 9:07pm - IP Logged
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 270Ç extra car tax this was on top of his normal year tax.
Message posted by DCV on 18áNovemberá2011 at 9:26pm - IP Logged
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.
Message posted by Dave and Kerry on 19áNovemberá2011 at 12:30am - IP Logged
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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