| Re: Buying an apartment - Price negotiation
In many micro-markets, it seems that there is a high demand for renting and a low demand for purchasing (with possibly exceptions being places like Zurich, Geneva, Lausanne).
I'm looking at places that will cost me less than 20'000 per year in financing but will have a yield of over 25'000 in rent (because of the postcode).
It seems in the market in which I'm now actively looking, there are quite a few people very keen to sell. As in desperate.
For those doing calculations on what you can afford, do note that the larger chunk you can drop for deposit, the cheaper it becomes - plus you are not required to amortize as the property will always cover the amount of the loan (for those coming from places where you actually pay off your house, this is quite bizarre, I'm sure!).
Of course all of this depends on how stringent your requirements are and what you see your strategic position to be. If you have strict criteria then you'll be like nileblitz - who I'd say has seen a price/requirements comparison become quite convincing. As they say on TV, it's all about Location, Location, Location!
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