Selling Property Amidst the Turmoil

In the aftermath of last week’s apocalyptic announcements that Europeans are about to live through the end of their relatively short-lived Union, and in the midst of Spain’s upcoming general elections, the rightist candidate assures that the real estate bubble burst is a fiction created by the socialist party now in government.
Whether the bubble really burst or not, the truth is that there are too many empty apartments and houses sitting in the shop windows. The strong right wing candidate, who all the polls predict will be the next President, promises to reinstate tax benefits for those citizens willing to purchase a home. Newly arrived mayors (elections were in May) state that construction will reactivate the slumping economy. But consumers, alarmed by recent events, are not willing to take any investment risks.
In the meantime buyers—investors with plenty of equity—are looking for a good bargain. Sellers, however, won't give their property away at a cheap price, and so the real estate market is at a standstill and no one can say what direction it will follow. Selling property is a short-term goal that in Spain has necessarily become a medium or even long-term one.

Read more: Selling Property Amidst the Turmoil at technorati.com

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