Slow is the word around the world this year


One of our working alliances in England, with presence all over Europe, sent us an email today with the following remark:  "Things have been very slow in Europe this year. There are enquiries and viewings but very few buyers commit to buy. We have many clients waiting to commit until next year."
Why is that remark so familiar?  It is just because it has been in the mouths of most of our contacts this year.  Just very few markets in the world have experienced some kind of recovery, but the truth is that it will take a bit longer to experience a residential real estate market recovery in Costa Rica. In general this year, we have seeing more demand for homes and apartments in the range of $100,000 to $400,000, but there is an increasing inventory of new homes in the market above that range, reason why we are being very selective about the type and quality of listings we are taking into our inventory.
Property owners are more aware of the need of price revisions and are finally learning to look at comparables of what are properties truly selling for in their area, finding that the final closing prices are far distant from the asking prices. 
As the end of the year approaches and the inventory increases dramatically, our advice to property owners is to be very realistic about worldwide market conditions and consider a price revision on their property, and look for alternative ways to make their listing more appealing to prospect buyers.  We are always ready to provide our advice and property owners are invited to ask for a free consultation at anytime.
Yalile Alpizar, President/Broker/Owner
email:  yalile@clecr.com

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