The fabulousatico with its huge roof terrace took six months to sell, a long time in this business.
The reasons were twofold - and very simple.
I priced it too high...and the location location location, was wrong.
When I bought the penthouse I thought (and still think) it was a great property, simply because of its 32m2 terrace. The interior was small but we still managed to get two bedrooms out of it but what sold it to me was the outside space. Is it because I am English that I valued the outside space too much? I thought the terrace was spectacular even before it was renovated. Once we had put down the decking and put some new furniture and the drying out plants that were there had been watered back to life, it looked fabulous -it really is an oasis in the city and the ideal space for drinking your morning coffees and evening drinks.
However, I realised afterwards (I had never done a flat with a terrace before) that people only really care about the covered metres for sale. A terrace may be of great use and enjoyment but when calculating the cold hard numbers the terrace doesn't come into the calculations.
The location, still within Barrio Salamanca, but on Francisco Silvela (a busy artery into Madrid) right on the border with the Lista district was another issue for buyers. Despite being two minutes from Diego de Leon and about a 10 minute walk to the shops and restaurants on Calle Serrano, etc.
It was not, put simply, prime enough Salamanca.
For now I´m looking for a new project, watch this space.