House & Home (128)
Houses can go backwards
After many months without finding a buyer for his home, David Garcia decided to launch tupisoporuneuro.com , where potential buyers can bid for his house via reverse auction. The bids have a minimum of 1 euro and a maximum of 150 euros and the winner is whoever makes the lowest bid that is not repeated. The scheme works by charging bidders per bid allowing the operator to recoup the cost of the property and auction process.
Why it matters
The reverse auction trend has been buoyant for some time now, and now it appears to be property’s moment. As more and more buyers struggle to enter the market, will auctions become a route to affordable housing? What will this mean for property marketing on the whole?
Related articles
IKEA is extending its affordable-chic furniture empire by building a privately-owned neighbourhood of affordable home rentals, condos, town homes, office spaces, and a hotel - all built and furnished entirely in the IKEA brand. People in the London area can then rent the units from IKEA, who will continue to own the 27-acre space and maintain the buildings, parks, and public areas.
“Kondis app ” by IKEA invites people to pick from a selection of 30 classic Swedish recipes, from small biscuits to large cakes. The app then advises them of a basic exercise to help balance out their indulgence.
