What do you say when somebody actually says something to you that is so ridiculous that it defies belief? This is a question that you could ask every day to estate agent as some people seem to think that the property defies the laws of supply and demand, the law of price gravity, legality itself, in fact it just defies any laws at all.
Yesterday I was phoned by an agent I know and they said to me that they had a brilliant property for me. I said then send me the price, the description, in fact send me everything, I want to see it. I got the information and it was nice. It was very nice. It was a 90 meter attic with 20 m terrace overlooking the beach in Valencia. What’s not to like? Well in the end the price!
So go on, guess how much do you think it was?
Before you answer that I just wanted to let you know about this property by the beach which is a townhouse with its own swimming pool with outside space not far from the beach, just a couple of hundred metres. The asking price for this is €360,000 and I think the house itself is around 200m not 90m and the garden is a bit bigger than 20 m of Terrace. Oh and it has a pool of course! (Click on the picture for more details)
Also this is a lovely little place of some 90m with a 10m terrace and partial views of the beach excellently priced at €120,000.
So go on how much do you think they want it for this Attic flat?
€650,000. That works out at roughly €7500 per square metre of flat. London prices!.
So why am I so flabbergasted? Well the truth has many aspects here but one is that this is a private sale. The owner has looked of property in the local area supposedly and then put this on at a competitive price (He says). Secondly the owner only bought the place three years ago and paid a lot more for it apparently.
I am sorry but that is not my fault if they got ripped off by an agent and a developer it doesn’t mean that any client of mine is going to get ripped off by a seller or developer. In fact, I was asked how much do I think it’s worth? But first I ask you how much would you pay for a flat of these characteristics near the beach in Valencia. I have a good idea of how much I could sell it for so that the buyer gets a good deal.