If from ’85 to ’95-’97 in 10-12 years it increased it’s value by lets say 1/3, reaching ~210K, then in another 12 years, i.e. 2009 (10) it should increase by another 1/3 of 210K, i.e. this should be no more than 300K. Oh, maybe 350K to be generous. Right? Right?
I don’t think they will get above 500K, and that’s being optimistic…
What do you think?
On the other hand, rents are declining a bit and I managed to get our rent reduced from $2400 to $2300 for the largest 1700+ sf floorplan in Madrid.
I’ve changed my mind about buying in here – unless it’s done a lot of remodelling and upgrading. The windows and wiring are pretty bad, lots of ants and beetles, very drafty. Definitely needs A/C especially upstairs.
