LUXURY LIVING - Sellers rush to market

  • 2007-10-10
  • By Joel Alas
TALLINN - In the space of a year, Estonia's market has flipped from a seller's paradise to a buyer's market. As economic realities hit home, buyers in the luxury property market are being given more room to negotiate. One real estate expert estimated that a buyer could knock more than 10 percent off the price of a luxury property without hassle, and even more with some negotiation skills. Luxury property is generally defined as real estate sold for over 40,000 kroons (2,556 euros) or 50,000 kroons per square meter. It is mostly new stock, and is common in the near-city areas or t...
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