Re: Re: End of austerity?

#83957

angie
Spectator

Mark, I agree with Ardun that completion costs are too high, therefore that rather negates some of the ‘capital protection going forward’ you mention. To both buy and sell in Spain and some other countries, you need an increase of say 16-20% to break even.

Is there any other asset you know of that requires 11% up front cost on purchase and at least a 5% on resale, surely this immediately puts that asset into negative equity unless held for a very long time, not forgetting annual charges to hold such an asset? 🙄