Arnold
CibbuanoTop Tier Property Surges
April 25th 2006 08:31
Despite a general slowing of the property market, properties in the high price bracket defy this trend and continue to surge ahead strongly. The demand for expensive housing is thought to be fuelled by the increasing number of people entering the high salary range. Over the last decade the demographic of the domestic shareholder has broadened, probably as a result of internet broking enabling the average joe shmoe to put aside saving into self managed share portfolio. Throw in the strong share market yields over recent years and suddenly there are more people with more cash demanding more luxurious properties. Also thrown into the mix is the rise of corporate salaries. With many top executives earning yearly salaries well into the six figure bracket and receiving hefty awards, bonuses and even payouts its no wonder that there is a greater demand for expensive housing.
A factor which is driving the prices is the disproportionate supply and demand that existing in the upper tier market. Whilst more people can afford luxury property, the supply of such property is not meeting demand. This leaves property buyers in bidding wars to snap up whatever does come on the market, a good position for any seller.
A factor which is driving the prices is the disproportionate supply and demand that existing in the upper tier market. Whilst more people can afford luxury property, the supply of such property is not meeting demand. This leaves property buyers in bidding wars to snap up whatever does come on the market, a good position for any seller.
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