Czech Republic: housing prices are stabilizing
This content is archived.
House prices in the Czech Republic have been depressed for the past four years. During the year to Q4 2012, the average transaction price of apartments fell by 1.8% (-4.9% in real terms), according to the Czech National Bank (CNB). This was worse than the 0.8% price drop recorded in 2011, but still better figure than the 12.3% and 5.1% nominal house price fall in 2009 and 2010, respectively.
The number of transactions also continued to decline in 2012, with a 10.9% y-o-y fall in entries of house and apartment titles in the cadastre, and apartment starts down by 13.4%, according to CNB.
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