The best opportunity to buy a property is for buyers who are selling a smaller apartment at the same time, who bought even at a time when prices were at their peak.
Our client moves from Trešnjevka to Maksimir, and the following example shows how much money he “made” before moving things to his new home.
A neighbor is buying an apartment for Maksimir, which until recently cost € 2,000.00 per square meter for a price of € 1,400.00 per square meter.
The apartment has 90 square meters and was paid 126.000,00 €. In 2009, the same apartment would pay € 180,000.00, which means that in the fall in price our neighbor “earned” € 54,000.00 .
At the same time, a neighbor is selling an apartment of 60 square meters in Tresnjevka, which in 2009 paid € 1,900.00 per square meter, at a price of € 1,400.00 per square meter. Now as a seller, a neighbor lost € 30,000.00 on a Cherry Flat.
Looking only at the purchase and sale price, which is what potential sellers most often look at, it looks like the apartment in question is not worth selling, but the reality is that he made € 24,000.00 on this move.
Right now is the right time to sell a smaller one and buy a larger apartment.
Our client’s question was; “Is the same apartment on Trešnjevka worth renting out?” The answer to that question could very easily be a question; Would you buy, as it currently stands, an apartment for € 90,000.00, which you can rent for as little as € 400.00 a month?
Is an income of € 4,800.00 per year a sufficient return on investment? Currently, there are creditors who offer a higher annual interest rate for this term deposit amount, and where there are no additional regular and unforeseen home maintenance costs .
The apartment is worth the sale, and the money is better refined.
It is just the time of the buyers we are currently in, it is the right time to buy an apartment, not the time of a seller that was 7 years ago, when prices were rising and most people were buying without thinking.
The consequences of irrational purchases are still felt on the market today. Prices fell 30 to 50 percent from the 2008 peak. The opportunity is there at every turn and can really be bought well.
Customers are often interested in whether prices will continue to fall; No one has an answer to that question, but if you find an apartment that suits you, it’s a shame to lose it by waiting another year for prices to drop by a hundred euros a square.
As time goes by in the slower decline in prices, there are more and more determined customers. How much is a year of quality life worth?
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