Survey Says European Home Prices Became Sluggish in 2007

London–Home price escalation slowed drastically across Europe in the second half of last year, according to a survey by the London-based Royal Institution of Chartered Surveyors.Higher interest rates were cited as the prime factor in the report, which also forecast global markets would continue to slow in 2008, BBC News reports. However, the U.K. was better primed than most countries for a home price turnaround, the Royal Institution of Chartered Surveyors said.In 2007, Ireland saw the biggest home price drops; Poland home prices rose faster than in any other country, according to the report.