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Hungarian home prices set to fall inflation-adjusted 9% in 2010

Home prices in Hungary, adjusted for inflation, are expected to fall 9% in 2010, even more than the 7.6% drop in 2009, FHB mortgage bank deputy-CEO László Harmati said.

FHB launched a home price index last year based on data from transactions. The starting value of the index was 100 points for home prices in 2000. It peaked at 200.7 points in Q1 2008 and fell to 179.11 points in Q3 2009.

The price of flats fell more than the price of houses in 2009. (MTI – Econews)