BMV property discounts: Market-driven vs developer situation
Understanding the housing market
Well things are really starting to get back on track now and we are starting to see a relatively unfamiliar sight as we negotiate for property: the "market-driven discount" (particularly in the London marketplace). With the markets changing so rapidly at the momement its important to keep up to date with property investment guides
and investment news
Let me explain.
The past two years have seen a massive amount of turmoil in the marketplace. Buyers have been rare and hard to come by for developers. The market was desperate to attract buyers right across the board. In situations like this, the discounts are always the biggest as developers feel driven to drop prices and offer massive discounts. Up to about 35% off a current RICS valuation at its worst in fact!