Price drop to 10% is expected in Czech Republic

Price drop to 10% is expected in Czech Republic

In 2013 in the Czech Republic is expected to decrease in prices for apartments in the secondary market as well as in new buildings. Falling prices range from 1-3% to 10%, according to Tyden.cz.

According to the forecast real estate M&M, prices will stagnate or decline slightly. The main reasons are unemployment, unfavorable tax law (increased tax resale property), caution in spending, the VAT increase and the reduction of rent for the apartment.

Falling prices of 1-3% may touch apartments in old apartment buildings. Housing in the Czech Republic is cheaper not the first quarter.