Apartment prices in the Czech Republic have dropped for the second quarter in a row in 2012. Prices for second-hand flats dropped by 5.7 percent, while newly built units have gotten cheaper by 3.4 percent on average y-o-y, according to the Czech Statistics Office. The sharp drop is due to developer discounts and a new focus on building cheaper projects. Central Group, for instance. recently launched sales on one-room flats with prices starting slightly below CZK 1m in Horní Měcholupy, just outside Prague.
