Residential property prices fell by 0.4% in 1st quarter 2022

The decline in the IMPI in comparison with the previous quarter is the result of contrasting developments in the market for single-family houses (+0.6%) and for condominiums (–1.2%). The increase in prices for single-family houses was greatest in urban municipalities of a large agglomeration (+4.9%), whereas prices in urban municipalities of a small or outside agglomeration fell the most (–4.2%). The sharpest price drop for condominiums was seen in urban municipalities of a medium-sized agglomeration (–3.3%). The only increase in prices for condominiums was recorded in the intermediate municipalities (+0.7%).