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Lodz in central Poland is the city where the prices of flats have fallen the most. File photo: polennu.dk
LODZ: Since peaking in 2008, prices lejlighder in the biggest cities in Poland fell by up to 28 percent.
By: Bjarne Jensen
6:01 - October 24, 2011

The last three years, prices of apartments in the Polish city of Lodz dropped by 28 percent.

Alone in September this year was the fall in prices in Lodz, Poznan and Katowice to 1.2 percent, writes the British financial newspaper, Financial Times, based on figures from estate agency Ober-Haus.

Smaller decreases in Warsaw

In the capital, Warsaw has dropped since the economic crisis began in 2008 was around 10 percent.

Fear of further falls have scared many potential buyers away. According to property mæglerfirmaet Rea's sales fell by 10 percent in the third quarter this year.

The building continues

Project makers are in turn not scared. They continue to build new apartments.

The number of completed new flats rose by 23 percent in the third quarter compared to same period last year.

48,000 flats are for sale on the Polish market, and it's record, writes the Financial Times.