Distressed property listings tipped to rise in Q4-RICS | Reuters: "number of distressed property assets being sold will surge in the fourth quarter as banks take a tougher line on failing loans, particularly in debt-troubled Ireland, Spain and Portugal, a survey showed on Monday.
The Royal Institute of Chartered Surveyors survey found the top five countries in which fourth-quarter distressed properties sales would likely increase also included the United States and the UK, which were, respectively, ranked second and fourth.
'With the commercial property market recovery faltering across several countries in the third quarter there is an expectation that banks might be becoming less lenient in extending terms for real estate loans,' Oliver Gilmartin, RICS senior economist, said in a statement."
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1 comments:
If we are serious about these distressed property, it is important to strictly follow due diligence in their acquisition from their owners.
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