Speaking to someone I know and they said they have dropped their asking price (in marbella) from 1.1 million euros to 800,000. I was amazed that they had asked that in the first place. No expert but I would say it is only worth about 600,00!
but thats just it. when people (whether agent or vendor) pull figures out of thin air and then drop the price by 28% after X amount of time, does it means REAL prices are dropping?
This person might of bought 4 years ago for 300.000€ and might in the end sell for 450.000€. So either its dropped 65% or he/she has sold for 50% more than he/she bought it.
Normally when the media quote figures its based on information supplied by the notary. I know undeclared monies, etc… but these are the only facts available.
We’ve got a property on sale for 349.000€ (not marbella). A year and half ago it was on the books for 415.000€. We had an offer of 280.000€ 2 days ago. The owner bought in 2002 for 134.000€.
Huge drop or nice profit?