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Property Investor Europe News

Price war boosts Prague flat sales, Czech hotel occupancy edges up

20 January 2013, 04:37 PM

Sales of new apartments in Prague in 2012 rose 2.5% to a record 4,720 units, surpassing the prior peak in 2011 at 4,562 and boosted in 4Q12 by a price war between developers, says Swedish-based Skanska. Some new suburban projects were offered for little more than construction cost.