By Anna Grybel-Kloc

The recent economic downturn is having an increasing impact on property markets in Central and Eastern Europe, especially in countries in which construction and real estate contributes significantly to GDP. In these economies the downturn in the property market has been the steepest.

But property markets in countries in which construction and real estate don't play such a big role haven't been spared. Variances can be clearly seen when we divide Central and Eastern Europe into the Baltics (Latvia, Estonia & Lithuania), the Visegrad Group (Poland, Czech Republic, Slovakia and Hungary), Bulgaria and Sofia, Croatia and Zagreb and Slovenia and Ljubljana.

Let's take a look at property prices in capital cities in Central Europe, which act as trendsetters for other cities in the country - what are the current prices per sqm, how they have changed in the last year and when we can expect these markets to recover?

The Visegrad Group