Barnet Ross Auction 12pm Live Link

Order of Sale - Lots 1 to 53 UK lots appear to be mainly commercial ( Shops and Ground Rents )

Lot 45 - Semi Detached Portugese House - No Reserve!



The end of the overseas dream?

M21er

Put me down for 5k

does anyone have any info on Portuguese prices/crash, I have a family member who wants to buy a holiday home...

This sort of thing is terrific if you have local knowledge and can get someone to look at the property / do some due deliginece for you in Portugal. Without that knowledge there are any number of problems that may give you serious headaches, such as: Developer didin't have planning permission for full number of villas built; Construction is poor with structural problems; Property not connected to gas, water or electric. The list goes on. You are paying a percentage of the price up front and won't get it back if you decide not to proceed.

Hi TSD,

Very valid points - it will be fascinating to see what the properties ( With no reserve ) sell for. Will they be £20k to £30k or much more? Time will tell

M21er

Hi Symo

Not quite £5k - although bidding did start at £2k for Lot 45.

Lot 45 - Sold £115k

Lot 46 - Sold £92k

Lot 47 - Sold £90k

Lot 48 - Sold £94k

Lot 49 - Unsold £105k Reserve at £135k

Lot 50 - Sold £65k


Any thoughts as to how those prices compare with Last Sold prices for the same / similar developments?

M21er

One of you may like to send an HCP link to the dears?

http://www.forum.carvoeiro.com/viewforum.php?f=20

Yep, the place even has its own forum.

Those rubbishy lumps of auctioned white concrete looked expensive to me.................. but then I know what they cost to construct................ & I don't see the point of living in an upmarket ghetto; it's not good for the soul.

More from this development being auctioned today:

Barnett Ross Auction 10 April 2008

M21er