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Property prices to drop

17th February 2009
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According to financial advisory Expander, real estate prices are likely to drop by 15 percent this year

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.


From Warsaw Business Journal


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