We’ve noticed more signs of there being difficulties selling properties, both new and resale, evidenced by reductions in prices, 1,000€ euro incentives to buyers within a certain time, and agents being offered increased commission of 7%+. This at a time when there are many more agents operating and competing for listings by reducing their commission %. It all has echoes of the times before the 2007/8 crash.
At the same time, we have reports from established agencies of record numbers and values of sales, especially at the upper end of the market. Perhaps it’s a reflection of a disconnect of the markets, with, on the one hand, there always being people with wealth who wish to buy, perhaps for wealth protection purposes in times of inflation and insecurity. On the other hand, there are those whose budgets are strained due to inflation and substantially increased mortgage and other costs, who now must sell to survive financially.