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Post by ray51 on Oct 6, 2010 13:39:38 GMT 1
What about the Russians who are paying millions for all those ruins? Yeah , I know of a Moscowite , who bought a bare shell of a new house on Brac , 2 years ago : for muuuuch-too-muuuuch , IMHO ! Since then , he is struggling to get anywhere with finishing it and is even thinking of letting it go - albeit , the price might be somewhat different ( lower ) now ? Oh well : easy come , easy go ?
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Post by zvekov on Oct 7, 2010 9:43:37 GMT 1
it will be interesting to know what the anecdotal evidence for traded prices in the split (meje) and dubrovnik (ploce) areas are... the agents are still talking north of 3000/sqm. I wonder if it is north of 2000 at all..
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Post by happy on Oct 7, 2010 10:15:46 GMT 1
it will be interesting to know what the anecdotal evidence for traded prices in the split (meje) and dubrovnik (ploce) areas are... the agents are still talking north of 3000/sqm. I wonder if it is north of 2000 at all.. Agents!
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Post by Carol on Oct 7, 2010 10:24:40 GMT 1
Zvekov - there is a big difference between an avdertised price and the actual amount of money that is paid over when a property is sold. The agents have to get the owners agreement to sell and the owners have to agree to the advertised price. The owners always want as much money as possible and 9 times out of 10, they think that there house or stan is better than their neighbours, so it should get more money. Then people lie to each other about how much their property is worth - I think its called boasting. So when someone comes to sell, he believes that his neighbours is worth more than it really is and anyway he thinks his own one is better so he wants even more money. The agents job is to explain a normal price. However, the owner usually doesn't want to hear it because he thought he had 3000 per sqm and now he has just been told that he is not as rich as he thought. One reaction is to call the agent a liar. Now the agent knows that the owner needs time to accept that his price is wrong, so what can he do? There are two options:- 1. Walk away and come back later in the hope that the owner will have realised his mistake. 2. Work with the owner to show him that his price is wrong. The best way is to advertise at the higher price and wait until the owner figures it out that no buyers are coming to the house. Why? Because the price is wrong. Everything has a price it will sell at, but the trick is to find it. The problem with option 2, is that other people look at the advertised prices and think that they are realistic. The sad thing in today's market is that buyers won't even look at a property until it has a realistic price and then they want a bargain, so they bid 20% below. If the owner won't sell, then they might raise their offer just a little and if the owner still won't sell, then the buyer just finds another house which is just as good but the owner will sell for 20% below.
20% is a massive drop but at least you have your money back and you can put it into a bank to earn interest or pay off your loans which would otherwise cost you in interest payments. The alternative is to take the risk of waiting and hope that you'll find another buyer within a year or two.
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Post by crojoe on Oct 7, 2010 11:48:23 GMT 1
I looked at a house 6 years ago to rent when I came to Zagreb and the owner only wanted to sell, asking 3000 per sqm. 6 years have passed and the house is still sitting there empty as can be, rotting away due to no one living in it. Amazing how a building does that. Guess no one to take care of it, keep it warm in winter and cool in summer brings on decay. Tried to tell him SFOR and KFOR had left and we where just normal people. I even recall we saw a house for rent in the paper (then wife called in Croatian) and it was decent price. As soon as we showed up with foreign plates the price shot up by 1000 euro. I waved good bye and left. Amazing the greed some people possess.
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Post by zvekov on Oct 7, 2010 12:43:41 GMT 1
i see agents blaming sellers... but in the peak boom times of 2002 - 2004 there had been talk of unscrupulous practices of doinfg a turnaround buying at one price and selling at another price on the same day to the ultimate buyer.. Some operators made a killing, as they charged commission both sides and also bought and sold the land for at turn... especially land and ruins where there was little clarity in prices... This could have generated a lot of suspicious sellers...
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Post by Carol on Oct 7, 2010 13:38:20 GMT 1
no, its not agents blaming sellers. Its me telling you why not to believe that advertised prices are the final price and yes, there were a lot of unscrupulous agents around at that time (2002-4). Most have gone, because they were carpetbaggers and there isn't enough money in it now to interest carpetbaggers. They will be somewhere else doing something else by now, but they 9or others like them) will come back when the market improves.
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Post by mambo on Oct 7, 2010 14:47:17 GMT 1
I always have to laugh at people who try to justify prices of 3000 euro/m2 in Croatia.
There are enough websites where you will find properties in other countries (Western Europe) and there you will find prices of 2000 - 2500 euro/m2 for luxurious penthouses.
If Croatians fail to understand that 3000 euro/m2 is way too much in a country which has basically nothing to offer, then the sellers can sit on their houses for at least another 10 - 20 years. In Istria the market is in a dead lock, nothing is moving anymore. Some houses have been on the market for 7 !!!!!!! years and still have not sold. Maybe it is just me, but when a house does not sell within a year you could perhaps come to the conclusion that the price is a bit too high.
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Post by ray51 on Oct 7, 2010 15:18:59 GMT 1
Quite a few acceptably nice appartments of 80-100-120 sq.m. , been For Sale in better parts of Bruxelles since Jan , April , priced around E2.000-2.500/sq.m. , many are now reduced too : all this , in The Capital of EU ( where The Holy Theory always was that there'd always be yet another silly overpaid Lithuanian/Latvian/Hungarian/Roumanian/Greek/Porra/Slovak/Estonian/Finn/Bulgarian/other... gangster or idiot or embassy/EU employee - what's the difference , anyway ?- to overpay over all odds and over what the locals would pay ... now , even that formula seems to be failing ?
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Post by Madgolfer on Oct 8, 2010 6:36:07 GMT 1
There are many flats (newly built and old) standing empty here in Vrbovec, with prices from €1250 to €1750sqM, because Croatians simply cannot afford to buy them, mortgages are still very hard to obtain it seems. Another two developments have started construction in the past few months and will likely be finished before the end of the year, they will also probably stand empty for years. I simply cannot believe that developers of these apartment blocks are being given such wrong advice? Assuming that they have already acquired the sites, why not just sit on the empty land plot until the market improves? It beggars belief!
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Post by crojoe on Oct 8, 2010 8:43:28 GMT 1
The only thing I could think of is some of the building that is going on still is it's either used as a means to launder money or most of the units have been paid for in advance by real tenants? I say this as I don't see a load of people buying apartments today, and by all accounts in the news is sales and contruction is like 20% down.
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Post by johnwayne on Feb 9, 2011 18:37:50 GMT 1
Look at Spain or Panama or South America if you want to retire. An American couple just bought an organic coffee farm on 7 acres in Panama for 100,000 euro. Or you can just wait for the delusional retardirani to bleed out and then buy for way less than 3,000 euro a meter <<<<LOL!!!!!! what are they smoking?
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Post by ray51 on Feb 10, 2011 0:14:59 GMT 1
hey there , me mates ! I happen to own a flat in Knezhija , Zagreb , some 58sq.m. , busy Selska cesta a Problem ( would be , for myself , anyway ! ) ; Russian-style concrete uggggliest block , filthy , broken entrance , much broken glass , much dirt at any time/s , cigarette-butts , discarded junk and all ; 2 ever-broken lifts , usually littered with discarded nylons/Tampax/pantyhose , chocolate/ice-cream foils , condoms and suchlike ; some seriously-stinking rubbish-disposal room enough to asphyxiate any civilised western person , ugggliest graffitti everywhere all around , more than my sad , old eyes can take , insufficcient , unsafe parking outside , drunkards , our patriotic Branitelji , pissing out Zhuja all over , well-before 08.00 mornings , where I personally can't even order a decent , drinkable cofee-au-lait , ne'er you mind an edible croissant.... what do we think , this might be worth , in EUrocash-cash-cash terms nowadays , for a quickie get-out of the such total-est shiiiite ? Thanks to ya all , R.
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Post by Madgolfer on Feb 10, 2011 0:28:44 GMT 1
Funny enough I walked almost the entire length of Selska cesta yesterday, having parked at completely the wrong end of the road to where i needed to be. There has been a lot of development along there now Ray. OK theres still a lot of run down places as well but you might just be surprised. Its not my area of real estate so cannot advise you on current prices but maybe worth asking a few agencies that spee in the city.
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Post by ray51 on Feb 10, 2011 1:19:00 GMT 1
Thanxxxxx, mate !
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