House prices in the UK are falling and it could continue for 2 years. How is the Overseas Property market reacting? With discounts!!
See our Discounted property listings
Naturally the “we're all doomed” soothsayers in the media are now rubbing their hands at the prospect of being right for once. However I’m with the Estate Agent I heard on the radio this morning who made the point “now’s the time to buy” very eloquently. His point was simple, buy on the downward cycle, sell on the upward cycle and if you wait for the bottom or top you’ll never find it. How right he is, and of course this applies equally in overseas property market where in some countries prices are falling back likewise.
Well actually, house prices overseas never fall, but houses are sold with “discounts” in tight market conditions, it’s purely psychological but somehow having to offer discounts as an incentive to sell your houses sounds better, and more temporary, than the “we’re all doomed and facing financial Armageddon” approach taken in UK
Property in Spain has been sold “discounted” for a while now, and other sellers in other countries are also offering discounts, but I was quite surprised to see discounts being offered in Portugal where at the top end of the market discounts of up to 500,000 Euros! are on offer. I’m curious as to why this is happening, one explanation could be that some investors who are highly geared in terms of borrowing are finding it necessary to turn assets into cash quickly and therefore are prepared to offer substantial incentives to dispose of unneeded property, which means of course this type of “quick sale” property is a real bargain on the downward cycle and a profitable easy sell on the upward cycle. Check out some of these discounted properties. Or call us on 0845 257 3737 to hear about the discounted properties that we can't list!!
