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ČNB says flat prices rose too high and should fall

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A new report by the Czech National Bank warns that flats in the Czech Republic are overpriced in spite of recent falls and prices could slide still further. The report says rent and wage rises failed to keep pace with that price explosion, which started to put flats out of reach of ordinary earners. The Brno-based Institute for Regional Information agrees with the bank’s conclusions that flat prices were exaggerated and should fall.

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