You cannot really trust Banks on their analysis nor their previsions. They are not in direct contact with the market. Banks actually consult us about what the market is willing to pay for a property. There is no doubt and I can guarantee you that the prices will keep on falling.
Locations where no new properties can be build will stabilize, but will definitely not increase at high rates. Price increase will be linked to availability and the price people are willing to pay. Newly build, empty buildings, half-empty buildings, areas where there is a lot for sale, will keep on declining.
The bad bank is dumping properties on the market. Big investors buy and resell it at a competitive market price. This means that second hand property prices are also affected. The value loss of those properties are not reflected in their calculations, as they are not on the market.
Why do I recommend to buy? Banks and investors are in need of Cash. This is your ammunition to negotiate. I can guarantee you a discount will be given if you can prove you have the money to buy.
This is another reason why I say, that prices will keep on falling. Property owners will eventually sell below asking price. We are selling to French, Spanish, Russians, Dutch, Belgian, North Africans and Spanish people.
For the last couple of year we have sold record number of properties at discounted rates. Before the economic slump, nobody accepted offers made by buyers. It was the other way around, the buyer became the highest bidder. Now the buyer picks his property and buys from the highest discounter.
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