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?
Source: Europa Press
16. September 2009
The energy company Essent offers customers a free E-thermostat when they subscribe to a 3-year contract for green energy. This allows them to remotely set the house’s temperature via their smartphone or tablet devices. Also, thanks to a built-in motion sensor, the heating is automatically turned off when you leave a room allowing consumers to save energy and money.
There is a growing trend in Istanbul for wealthy bachelors to buy old flats/houses in low demand areas of the city and to have these second properties as ‘party houses’ for weekend usage.