i live in an upstairs flat and the one below is for sale. i was thinking of putting in an offer but, as i believe prices will not rise much more and may even drop at some point, it seems to me that flat prices cannot rise as much(percentage wise) as house prices as they have limited value compared to houses, and therefore not as valuable. So do flats have limited value compared to houses??? WHAT DO YOU THINK , MISTER????
2007-11-04 04:23:22 · 5 answers · asked by papillon soo soo 1 in Business & Finance ➔ Renting & Real Estate
flat prices can certainly rise as much as house prices. 99% of the time you are paying for the location as much as the bricks and mortar and flats are just as likely if not more so to be in a desirable location. OK - you cant extend them or do the garden, but they can still be extremely pricey. Now that less and less people can afford houses, the demand for lower price flats will rise even more, and hence the price will be pushed up. The house price generally is expected to flatten out or even drop in the near future (but who knows), so now might not be the best time to buy a flat or house for investment.
2007-11-04 04:29:44 · answer #1 · answered by monkeynuts 5 · 0⤊ 0⤋
House or flat. Price rise depends on the vicinity. What class of people are living around. What amenities are available. How fr is a good school and hospital. What is state of transport system in the area. If such infrastructure increases in quality and quantity, prices rise.
Flat prices may go higher even higher than an independent house if security becomes a prime concern. As it is safer to live in a flat than in an independent bungalow.
2007-11-04 05:10:56 · answer #2 · answered by ashok 4 · 0⤊ 0⤋
Not everyone wants a single family house in the suburbs with a big yard to keep up. Flats will still have a market and actually may be more valuable since they are affordable in a tight housing market. If you are buying make sure that you can afford to hold on without having to sell for several years.It may take that long for house prices to go back up.
2007-11-04 04:32:51 · answer #3 · answered by Diane M 7 · 0⤊ 0⤋
Flats are still a kind of real estate, so it will mostly depend on the location. People are busier these days so most young people would rather have a small, simple flat than the whole house and white picket fence package so yes, it can rise as much as house prices.
2007-11-08 04:07:09 · answer #4 · answered by Anonymous · 0⤊ 0⤋
House and flat prices can rise as high as they want as long as people are willing to buy.
When the demand for housing drops, then so will the prices.
2007-11-04 22:52:29 · answer #5 · answered by Catwhiskers 5 · 0⤊ 0⤋