selling up?

[martin]

interesting article ref many europe second home owners from UK considering selling up as their rental returns are not enough


see here

http://www.telegraph.co.uk/finance/pers ... ng-up.html

[EMM]

Its no surprise in fact as we know many , far too many bought in the boomtimes influenced by agents who misled them into believing that rental rates and occupancy periods are greater than they are in reality.
We have seen a fall in nights " outside of the main season " , but peak weeks are always full.

One factor influencing many developments is that for some their rental agreements with developers are coming to an end and as such owners are loosing their assured income and now have to go into the market themselves.
Not everyone wants to do this and the sterling devaluation still allows them to cover costs or even make a profit if they can sell.

But the problems in Portugal are but a fraction of those in Spain, Bulgaria and other " second home " markets.

[maccasa]

Regretfully its symptomatic of the "make a quick profit mentality" that affects so much of the city trading.