SOLD last Month for €118,0000
FOR SALE today for €195,000
You’ve come to the right place.
I was looking at this apartment (above) with an asking price of €195k. I checked the Property Price Register to see prices of similar apartments sold recently only to find that the exact same place was bought for €118k last month.
Further research shows it was sold on the BRG auction site as a bank disposal (by a long term trustee savings bank). Over 65% increase in price in a single month was not what I expected to see in a slowing property market.
I am wondering if estate agents have any responsibility in preventing property market hyperinflation? That might seem counter-intuitive, but in the long term I reckon it would be better for business.