Muswell Hillbilly Posted May 20, 2009 Share Posted May 20, 2009 Pricing of the few new properties that are appearing in my weekly search seems to be all over the place. 11 Merchiston Crescent – 2-bed maindoor – in region of 375k 15 Rochester Terrace – 3-bed maindoor in the same tenement – offers around 399k The latter has the same footprint as 3 (3F1) Merchiston Crescent, which sold last spring for 395k. 375k for the two-bed flat is just barking. Quote Link to comment Share on other sites More sharing options...
ccc Posted May 20, 2009 Share Posted May 20, 2009 Anyone who pays that is insane. Or just has stupid amounts of cash sitting doing nothing. I don't even think a 2 bed flat in Moray Place, Fettes Row or Drumsheugh Gardens is worth that money. Quote Link to comment Share on other sites More sharing options...
Guest An Bearin Bui Posted May 21, 2009 Share Posted May 21, 2009 Pricing of the few new properties that are appearing in my weekly search seems to be all over the place.11 Merchiston Crescent – 2-bed maindoor – in region of 375k 15 Rochester Terrace – 3-bed maindoor in the same tenement – offers around 399k The latter has the same footprint as 3 (3F1) Merchiston Crescent, which sold last spring for 395k. 375k for the two-bed flat is just barking. A similar 2-bed maindoor flat on Montpelier Park sold for about 370k at the peak of the bubble, late in 2007 I think. I remember it because at the time I thought that anyone paying that for a pretty ordinary flat on a not-spectacular street was going to lose big money. The rental value of such a flat would be £750-850 per month. At the time, we marked it down as the peak of the insanity, thinking we'd look back and laugh in a few years. And here we are nearly 2 years later and some dreamers are still expecting to get these maximum peak prices for their bog-standard flats on not-spectacular streets. The denial is impressive - the market has dropped 15% in Edinburgh and they're still pricing at maximum peak levels. I think it's also the estate agent though. I've seen quite a few 'exclusive' properties being marketed by Simpson & Marwick at peak prices and just sitting on the market for months and months. They don't seem to get it really, do they? Quote Link to comment Share on other sites More sharing options...
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