Czechs learn to haggle over flat prices: survey

The economic downturn has taught Czechs to haggle over the price of flats according to international estate agent King Sturge. Buyers have been able to knock down developers‘ initial prices by as much as 20 percent, according to a study released by the company on Tuesday. The study says the price of new flats dropped across the country last year by an average 7.1 percent and in the capital by 8.2 percent. Prices for older flats dropped by 9.4 percent nationwide and by 5.9 percent in the capital, it added. King Sturge predicts the downward pressure on prices will continue but they could stabilise and even start to rise by year end.

Author: Chris Johnstone