Comment by sfn42

Here's a thought. Imagine roughly 5% of available apartments are in renovated old buildings. I don't know what the real figure is, doesn't matter I just assume it's significantly lower than newly built apartments.

Now also imagine that 20% of people prefer those old buildings.

Per apartment then, there's 4 times as many interested buyers than per modern apartment, and the buyers of the old apartments are looking at a much slimmer market so they're willing to pay much more for the right one because they're unlikely to see a comparable one soon.

Also I imagine bringing an old building up to modern standards is quite expensive so that also explains some of the price.

I don't really know anything, I just think what I'm writing makes sense.