Flat prices fall in Czechia for first time in near decade

The price of apartments decreased in Czechia in the fourth quarter of last year, according to data from lender Hypoteční banka, which is part of the ČSOB bank group.

The decline, of an average of 0.7 percent, was the first quarter to quarter fall in property prices since the beginning of 2013.

Bank representative Martin Vašek told the Czech News Agency that loans cost more and were harder to acquire and that this, combined with the overall economic situation, had led to a cooling of the apartments market.