Proliferation of Estates that people cannot afford

[Mayox25]

Most people who have this estates did not build it because they want to rent or sell it they built or acquire it through stolen money most of them are corrupt civil servants.

 

[greenie]

It may seem they are not been able to sell these properties in your estimation at the present moment, but believe me, these properties do often than not get sold. Properties in such areas of the city you said always get sold in the long run

 

[Sotherefore]

Well there is nothing you can do , that is how real estate investment is all about . it is an investment for people who can afford to invest, you can also look for less developed location with future potential and invest the little money you have.

 

[tyrim88]

This is a major problem in developing countries as the estates being built by real estate companies aren't what the citizens can afford. I saw a documentary on ghost estates in Angola.

Most times the developers usually build estate base on category and most times the ones built cannot be occupied by Tennant's due to the high cost of such houses, because if you compare the living standard of most persons,it is not comensurate with their wages.

This is a major problem in developing countries as the estates being built by real estate companies aren't what the citizens can afford. I saw a documentary on ghost estates in Angola.

Most times the developers usually build estate base on category and most times the ones built cannot be occupied by Tennant's due to the high cost of such houses, because if you compare the living standard of most persons,it is not comensurate with their wages.

 

[HayKay]

I've also noticed this but I'm not sure that all real estate properties are the ones that people can't afford. I've seen quite affordable ones especially in developing areas.

 

[Nomad]

people can buy properties in two conditions, one, they have a lot of money to buy the property, and two, they have a stable income source that will allow them to pay the mortage fees regularly.

 

[Ernestnari]

If the estate agency could offer instalment payment, it would help people to afford these estates. Installment payments that stretch to 12-24 months could help raise patronage for these estates.

 

[Jonaville]

Properties always have benefits. If the owners cannot sell them because of their high cost, they can plan payments with potential buyers, who can deliver an initial and the rest of the payment in drafts. Otherwise, you can rent these farms, while new buyers arrive with enough capital.

Exactly
If they have chosen not to sell them off, they can just lease it for some years. I think that will be the beat idea instead of them to abandon the house or the particular property.