Sellers told to cut
prices by up to 15%
A leading French estate agency group has recently written to its
vendors telling them to cut their asking prices by 5-15% if they want to sell
in a reasonable timescale.
How’s that for proof
that we are definitely in a ‘buyers’ market’ here in France.
Bernard Cadeau, President of Orpi Immobilier which has agencies across France,
particularly here in Brittany, was
speaking as banks moved yet again to
boost the market by dropping mortgage rates to their lowest since ‘the
Liberation’ meaning that a 20 year fixed loan of €200,000 costs you €20,000
less now than it did at the beginning of December last year.
Mr Cadeau said, that in a recent test, cutting prices by 3%
had seen the delay in getting a sale fall by 17% and increase their sales
across the test by 20%. He also
highlighted the movement between asking prices and final selling prices for
properties which grew from 7% at the start of 2012 to 15% by the end of the
year.
It’s time to grab a
bargain ….. and as on average our property finding network saved between
16-18% on advertised asking prices last year we can save you even more money
just because we are here on the ground and understand the market on a local
basis……….
….. and having recently negotiated a massive 36% off asking
price for a recent client, sometimes we even surprise ourselves.
