5 Reasons prices of Real Estate is dropping in Lake Atitlan
Check out last post on reduced price properties
Lake Atitlan Guatemala real estate market is very particular and different from what you are used to.
After the 2008 -2010 crisis when business went dead until 2012 everybody expect the market to bounce back... and if it is true that since 2013-14 and 15 it has been more active than ever it is not yet a hot market where properties sell quickly.
Suddenly we are seeing serious price reduction on several of our properties listed...
so here is why some prices are coming down...
The main reason is an original pricing way to optimist. Owners are always thinking that their property is worth much more then what the market can bare. The fact that Lake Atitlan is one of the most beautiful lake in the world if it is not known not many people are rushing to buy here.
Second reason : Aging and health issues, the envy to relocate back to his own country and close to his family are the main motivation. Therefore a price reduction helps the transition back.
Third a divorce it for sure affect the condition of ownership making a sale the only way to settle. It is maybe the least occurring situation.
Fourth death in a couple makes the stay no desirable for the one left or simply death of the owner and the heirs have no interest in keeping the property in the family.
Fifth Exchange rate.. for some countries like Canada or Europe suddenly as the US dolars increase in value, a price reduction is appropriate. The final price in the foreign currency is easier to rich now with a lower US $ price tag then ever.. Helping the seller to lower the price tag to the benefit of the buyers.
Still Lake Atitlan Real Estate Market is a buyer market..