Great article about how some property investors are deliberately over-pricing their assets to avoid having to sell them at the current low market values.
Our close analysis of these 100 properties has revealed that there seems to be a significant number of properties (possibly up to 8% in Dublin) “on the market” that are not really for sale – some of which are being used by property investors and developers to give the impression to their lenders that they are trying to “get their finances in order”. Priced as much as 17% above the levels advised by agents, these properties are clearly intended to repel buyers and just make it look like action is being taken so that the vendors can protect their financial positions. One estate agent comments: “In some cases this actually suits the bank also as they do not have to make difficult decisions.”
Read the full story here.
