In January 2022, Berlin-based estate agent Peter Rabitz, who specialises in selling expensive homes, took on a smartly decorated three-bedroom penthouse apartment in Kreuzberg, a fashionable Berlin suburb.
Initially, the vendor insisted that it be marketed at €2.945mn. But, by November, there had been so little interest that Rabitz persuaded her to drop the price to €2.495mn. He would like to price it even lower: once he has interest from several prospective buyers, he will be able to play them off against each other to negotiate a higher price. But, in recent months, buyer interest has been hard to find.
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