Promoters are offering discounts of up to 58 per cent at Valencia’s Urbe property trade fair this weekend.
The record 58% discount on new completed apartments by Bancaja Habitat is the biggest but other promoters are also trying to entice the few buyers that are still about.
Company Metrovacesa are using the same aggressive sales campaign they used at the Barcelona Meeting Point fair earlier this month. They are offering 25% (which could climb to 30%) discounts because of contract cancellations – passing on the money lost by buyers who put down deposits but then couldn’t get mortgages.
Meanwhile, another company, Edival is offering a straight deal of 15,000 euros discount per apartment.
Small government sponsored and low mortgage apartments for first-time buyers will be a major attraction at the show because of their low cost.
A sign of the times is that last year Urbe took up four exhibition halls and had 223 exhibitors but this year’s edition – open until Sunday – fits into one hall with its 70 exhibitors.
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