20 Martie 2009
Old houses will become cheaper by 30-50% and new ones by 15-20%, study shows
The value of old houses and apartments will decrease by 30-50 percent before the prices stabilize, think most of the brokers and real estate developers asked during the research carried out by NewsIn during January 10 and March 10.
Those interviewed believe that old houses had been overrated and that their prices will go down at a faster pace than new houses. Sales are now almost entirely blocked, which makes an evaluation of the right price impossible. Rentals in the segment are however moving upward.
New houses are expected to lose only 15-20 percent in value and once the market is stable, the prices between old and new houses will stand 20-30 percent apart. What's more, the decreasing tendency affects differently the several segments of this market.
Thus, new medium and medium plus houses are the most severed, with prices expected to fall by 20 percent, while the luxury category only takes softer 5 percent slips. The analysts reckon that prices for medium and medium plus houses will not decrease by more than 800-1,000 euros.
An additional pressure on the market could come from developers that have to sell below the value threshold due to financial shortcomings.
New houses are expected to lose only 15-20 percent in value and once the market is stable, the prices between old and new houses will stand 20-30 percent apart. What's more, the decreasing tendency affects differently the several segments of this market.
Thus, new medium and medium plus houses are the most severed, with prices expected to fall by 20 percent, while the luxury category only takes softer 5 percent slips. The analysts reckon that prices for medium and medium plus houses will not decrease by more than 800-1,000 euros.
An additional pressure on the market could come from developers that have to sell below the value threshold due to financial shortcomings.