Sales in last year’s final quarter were a disaster, even for large real estate advisory companies, which used to compete in terms of sold units.
“To date, the fourth quarter of 2008 registered the lowest sales since 2005,” Ilinca Paun, Head of the Colliers Residential Division.
Colliers sold only seven apartments in the fourth quarter of 2008, DTZ Echinox, sales were 47 percent lower than in Q4 2007, Coldwell Banker is patting itself on the back for the sale of 70 apartments, while officials of CB Richard Ellis-Eurisko will say only that the company sold fewer apartments than in 2007.
