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Geemo

Island Update

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Hi all ,

No posts have been on the forum re The IOM for quite a while .

Its a Place that interests me , but to be honest i dont know to much about its market place of late ( was last on the island in Jan09 , the housing market seemed to be holding its prices and things where ok ).

Any advice/information would be helpful .

Thanks,

Gee

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From what I hear, the housing market does appear to have held up OK but there has been a marginal decline in prices, with sellers having to accept offers to complete with a sale. The top end of the market is strong as those looking to protect their milllions but the lower to mid range is just stagnant.

I have been following some IOM estate agents sites and there does appear to be a lot of property available. would anyone agree or disagree?

Even if there is over supply I don't see prices going down much nor do I see them racing away in the next couple of years. Decent deposits are still required and with 20% loss of earnings to the IOM revenues will result in public sector cuts and marginal tax increases - however I think those on the Island will be able to afford it.

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