In 2008, homes in Opole, Kraków and Sopot lost the most value – dropping by 12.4, 11.4 and 10.7 percent, respectively – said a joint report by Expander and Szybko.pl. Meanwhile, Jacek Łaszek, a real estate consultant at the National Bank of Poland, predicted a drop of 20 percent.

"The supply of unsold units remains high, prices remain high and there are problems with financing new investments and consumer mortgages by banks,” he said.