Czech house prices – still falling after 4 years
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After four years of price falls, the Czech Republic’s residential market remains depressed.
Apartment asking prices dropped by 5.2% (-7.4% inflation-adjusted) in 2011, according to the Czech National Bank (CNB). In Q4 2011, apartment prices fell by 0.9% (-1.4% inflation-adjusted), and are expected to fall another 4% in 2012, according to analysts. Transactions last year were 20% below the peak levels of 2008.
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