Is it flat hysteria already

The property market has gone mad. The prices are not growing
at annual intervals by monthly ones! The seller does not have
only power, he has absolute power.

The property market has gone mad. The prices are not growing
at annual intervals by monthly ones! The seller does not have
only power, he has absolute power.

A few years ago it was simply unthinkable for the seller to arrange
a small auction, invite three or four auctioneers and start
the bidding. The best bidder for the property wins th auction
and buys the property.

Frequently, the given selling price is no longer negotiable. Now,
it stands as the starting price as if at auction.
Places where flat prices grew at a record rate

Should anyone offer their flat for sale at an attractive price, they
may expect it to sell quickly, and the response to be considerable.

The prices are growing at a different rate in different cities.
The most harmed are buyers. They are harmed not only because
of high prices, they are experience many other difficulties. With
so many customers bunks, especially, those with best offers, are
slow to grant a mortgage, which often takes over two months to
grant. So if the buyer in the contract of sale does not specify a
very long period for the transaction to close, is likely end up in
trouble losing his deposit.

Michał Kosiedowski

www.GNP.pl

Article added on: 2006-10-26