Re: Re: Should I wait to sell?

#101142
Anonymous
Participant

I’m with adiep on this. Whilst nobody can say for sure, the general consensus, one I happen to agree with, is that prices will continue to fall for some time. Indeed the recent Tinsa stats indicate that the rate of fall, particularly on the Costas, is increasing again. Last month they recorded a 8.7% year on year fall. Since April the figure has been running in the minus 4-5% region.

There is no doubt that to sell now you will take a hit. It will be painful. That said, think back to what you could realistically have sold your villa for two years ago (Not the asking price but what it would actually have moved for). Now take 20% off that and you’ll be somewhere around what you’ll now get. In short, those two years you have procrastinated have already cost you something in the region of 100k.

If you are going to need or want to sell any time in at least the next five years then you will be much better doing so now. Forget any idea of ‘Perhaps I can sell it in a couple of years time’.

If you decide not to sell then enjoy using the place and hopefully you’ll be able to cover some of your costs with rental income.

You’re in a tough place I’m afraid.