Apartment prices to continue decreasing

The Czech Statistical Office expects apartment prices to continue to decrease. The head of the office’s prices division, Jiří Mrázek, told reporters on Tuesday that based on data from late 2011, a slight decrease might continue over the medium term; in the long run, however, the prices of both new and old apartments will depend on how the economy in the Czech Republic and abroad will develop.

Last year, average prices of old apartments across the country decreased by 4.3 percent year on year while those of new flats in Prague went down by 2.9 percent.

Author: Jan Richter