- This topic has 3 replies, 3 voices, and was last updated 15 years, 4 months ago by
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They decided to sell at a loss. It is good that somebody ended the denial phase.
Some rough translation:
“” I am not going to sell at a loss”.
How many times we have listened to that even professional phrase from friends or relatives?
After decades of house price rises for apartments or villas, people stoically resists to sell them with losses. although that is something that happens every day in other investments, like stock-market.
Nobody guarantees that a business makes money, be it dry cleaners, bar or a restaurant. But selling a property with losing money losing money was something unpronounceable, until yesterday…
Caixa Catalonia has been first in transferring that line taboo and open the door to sell apartments at a loss. to thus it indicated to his attached chief of a main directorate, jaume it masana, when affirming that ” there are assets that will be sold with capital gain and in others we will lose, but we preferred to lose today” .
The organization accumulates a stock of 3,600 apartments, pronounced these words after announcing that it reduced a 30% hundreds of those apartments. a reduction that in some cases will arrive after them already to have reduced more than two digits.
in addition, it sent a package of measures for strengthens his strategy of marketing, because it is committed to repurchase the building in case the buyer has work problems, and also rebuying or an economic compensation in case the real estate assets continue lowering in the zone”
I guess it really is different this time – 1990’s rules do not apply!
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Just thought I’d add a link to the Caixa Catalunya RE portal ……. just incase there are any bargains there for someone.
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@katy wrote:
I don’t know the area but they don’t look bargains to me. Just the same ole developers tat!
the comments on idealista also were mocking the “reductions”.
On the other hand, I would say that they have cheaper than usual properties (not bargains and not good properties, but a bit cheaper).
Anyway, it is a good start for the post-denial period.
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