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The FHB Home Price Index fell a nominal 1.9% last year and was down 3.3% from two years earlier, FHB Bank CEO László Harmati said at a press conference on Monday.
This year, home prices are expected to stagnate, Harmati said. The bank had projected a 2% price increase last year, but an early repayment scheme for foreign currency-denominated mortgages at discounted exchange rates wiped that out, he added.