propertytalk Live! - Interest in distressed sales almost doubles
There has been a dramatic rise in the number of countries in which real estate professionals are reporting greater interest in distressed properties.
It also revealed that expectations for increased distressed property sales in the coming months are highest in the Republic of Ireland, US and Spain.
The RICS Global Distressed Property Monitor is a quarterly report that reveals trends in 25 commercial property markets across the globe. A distressed property is defined as a property that is under a foreclosure order or is advertised for sale by its mortgagee. Distressed property usually fetches a price that is below its market value. An increased rate of distressed properties entering a country’s market can be seen as a negative economic indicator while a decrease may signal recovery.
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What does "increased interest in distressed properties" actually mean? I thought people were always interested when they think a bargain is to be had!
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