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Slovakia

Maxim Marmur/AFP/Getty Images

Slovakia

Quarterly Rank: 28
Quarterly Price Change: -5.0%

Annual Rank: 27
Annual Price Change: -13.4%

Second-home purchases in Slovakia by Western Europeans have driven up the country's real estate prices during the past few years. But when the economic crisis hit, prices fell dramatically, coupled with increases in defaults and repossessed properties.