anyone trying to sell overseas apartment and can't?

[northbrook]

Hi...I own apartments in Budapest, Bansko sunny beach and UK. Unfortunately, not going as well as planned - am geared up to the hilt and with recent downturn and high interest rates I am losing money hand over fist. Is there anyone in same situation and willing to sell at a loss? Can anyone recommend agents in the Eastern European markets?

 

[Guest119]

I bet there are numerous people in your situation, plus those who bought in Cape Verde, Morocco, Egypt etc. Let's face it, if you are worried about banks collapsing, markets falling and job security - which most of us are, the last thing you would be interested in is another mortgage on a holiday home you might not be able to afford to get to (assuming the airline servicing that destination hasn't gone bust).

Another reminder that in the short/medium term property is not a one way street. Incidentally, another thread on here re. Bulgarian property seems to indicate that people can't give them away never mind sell at a loss. Not what you wanted to hear, but that's the reality.

 

[northbrook]

I bet there are numerous people in your situation, plus those who bought in Cape Verde, Morocco, Egypt etc. Let's face it, if you are worried about banks collapsing, markets falling and job security - which most of us are, the last thing you would be interested in is another mortgage on a holiday home you might not be able to afford to get to (assuming the airline servicing that destination hasn't gone bust).

Another reminder that in the short/medium term property is not a one way street. Incidentally, another thread on here re. Bulgarian property seems to indicate that people can't give them away never mind sell at a loss. Not what you wanted to hear, but that's the reality.

Thanks for that reply! It isí'nt something I wanted to hear...again - am sick of hearing it! But its something I need to address. I understand it is not a one way street, however, need to keep for very long term to make a profit but would result in cashflow here dwindling!