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Real estate  |  December 16, 2010 11:10:10

M & M Reality: In 2011, expect real estate prices rise five percent


Mediafax

PRAGUE (MEDIAFAX) - While the 2010 real estate prices were marked by stagnation in 2011 is expected to grow by five percent. Informed about real estate on Thursday, M & M Real Estate.

Prague, Liberec and Ostrava region is one of the only sites of the Czech Republic, which in 2010 still recorded reverberation crisis and real estate-related decline in prices. Other regions experienced a year marked by stagnation. These related to housing prices in brick and panel, and rental houses.

"The fall in prices at the onset of economic crisis in 2009 reached an average of 30 percent. Year 2010 was, however, was marked by stabilization of the market and price decreases occurred rather sporadically.Locations where there was a price decrease in average about ten percent, for example, were more or Prague in the Moravian city and Liberec, "said Miroslav Jonas, co-owner real estate office. In the capital, according to him were the reason of this decline in overpriced real estate, which in the past declined slowly . In the remaining sites were lower demand for real estate due to difficult labor market situation in the region.

"At the moment, prices stabilized at the bottom as possible. For further decline in prices is no reason," said Jonas.

"At the turn of the year we expect, on average, on the contrary a slight increase in prices within a few to a maximum of five percent. Reason for growth is clear: there are very strict mitigation credit policies of banks and stabilize the labor market," said Jonas.

Libor Popel, popela@mediafax.cz

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