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For Sale, but at a Given Price?

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Cafe Engelhardt for sale

Cafe Engelhardt for sale

So, Verden’s estate agents don’t think that the property prices are stable, in cases of properties for  commercial use anyway (allerdings-online, April 2). We have an ageing population, less and less children (migration doesn’t catch up with that yet), we have a recession, maybe a looming depression with corresponding unemployment rates, but no likelihood that property prices are going down? The estate agents explaining the market situation are actually referring to the financial crisis as a reason as to why people may prefer properties.

In my life, I only saw “for sale” signposts in England 30 years ago. Until now, that is. During the recent eight months, I have seen such signposts popping up here in Verden, too. But then, who knows, maybe they still do sell at prices at previous levels.

mansion for sale

mansion for sale

If I was living and working in Bremen and intended to buy property in the hinterland, Verden wouldn’t be a place for me to look. Not if its estate agents’ expectations are correct. After all, I would have to add my petrol costs to the bill.

Then again, the picture according to allerdings-online isn’t entirely consistent. A Volksbank employee (position not specified) also quoted by the paper sees demand in refurbishing and mondernising houses, rather than in the classical real estate business (which probably means buying and selling properties).

Pretty often, a plan to sell the object later may be a motive for modernising, for selling “at a better price now or later. If so, supply will increase, sooner or later. And a lot will depend on the duration of the economic crisis – the longer it lasts, the more demand will slump.

As far as I can judge that, anyway. After all, I’m no expert.

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Written by taide

April 5, 2009 at 7:35 pm

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