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Why aren’t Prague apartment prices dropping?

Many newly built flats can only be sold at generous discounts, but few developers are willing (or able) to take the hit

Litujeme, ale tato diskuse byla uzavřena a již do ní nelze vkládat nové příspěvky.
Děkujeme za pochopení.
L

Lindsay.Athome

10. 2. 2011 13:22
  Unfortunately for buyers,
 Unfortunately for buyers, this sentiment is echoed in Budapest. My colleague handles luxury property sales here and notices that while some properties are priced at a reduction, the majority of owners are willing to wait for an improved market and maintain their elevated prices. Buyers pass them by and go for the few luxury properties that are offered at a better price. See the article here: Property Prices in Budapest -Lindsay
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Jbtvo

9. 2. 2011 19:54
Great Article
This article hit the nail on the head.  These are comments and facts which have been made behind closed doors; never really admitted in public.  But the truth is, there are way too many flats on the market and way too few buyers.  Another article today gave updated unemployment numbers and it showed an increase - the worst in 10 months.  This sort of data does not bode well for banks or developers.  Buyers are hunkering down and waiting until daylight.  Banks need to step up to the plate and get more involved.  Close down a project or two (or three), write down your loan and get the property repriced to sell.  Or move it to a rental scheme, get it occupied and sell it to a residential investment fund.  It ain''t rocket science folks.
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Czechpoint101

8. 2. 2011 18:14
Prague Real Estate prices
Very good article on developers'' unsold inventory which seems to be increasing. We believe there are many other factors involved which will also influence prices in 2011 including bank foreclosures and possibly tax changes (maybe 2012) as the government tries to narrow their budget deficit. However on the positive side we see the economy improving more than expected, interest rate increases on the horizon (prompting buyer ''panic'' to get low rates) and FDI to slightly outweigh the negative factors. Our full 2011 Czech property forecast can be read on our blog.  
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