Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

Developers do not want buildings' prices to go down

Real estate developers and people who have taken loans to buy a dwelling are interested that prices be kept unchanged in the real estate market, they do not like them to go down, Gabriel Alexandru, fiscal consultant with Credit Help Consulting, told Agerpres on Monday.

If developers tend to ask higher and higher sums for an apartment in a residential complex, saying that all costs, from the price of land to those of building materials have doubled this year, those who have taken a mortgage loan fear they will have to continue to pay huge sums, interests included, for dwellings whose market value could halve. Alexandru gave as as example a person whom, in 2006, bought by mortgage loan a three-room apartment in Delfinului-Pantelimon area, in Bucharest, worth some 87,500 euros. From that sum, the downpayment stood at 30,000 euros, and in a year the balance in the bank dwindled by only some 1,5000 euros, with the person in question having paid so far around 10,000 euros. In 25 years, the length of the credit, the 57,500 euros taken from the bank become 150,000 euros, which are to be returned to the bank, Alexandru calculated. In other words, if the apartment worth 87,500 euros, in 2006, will have, in 2009, a market value of 70,000 euros, according to studies saying that the price of old dwellings will go down 20 percent, the beneficiary of the credit will have to pay for that building almost three times its value. The possible drop in the price of apartments will not pass unnoticed by banks either, according to Alexandru. So, the debtor will be told he or she has to cover the difference in price. Things have become much more dramatic this year, said the financial consultant, who gave the example of a person who bought in Crangasi area, in Bucharest, for 90,000 euros a two-room apartment built before 1965, for which he or she pays a monthly installment of some 700 euros. In 30 years, when all the loan is returned, the apartment will be more than 70 years old. Alexandru said that most people who want a dwelling postponed to make a decision. He believes the offer of dwellings is, unlike what real estate experts keep saying, higher than the demand of people who can get a loan, after the banks' criteria. Sursa: http://www.rompress.ro

Tags: euros apartment alexandru developers

Articole similare