Prague Flats 10% More Expensive Than Last Year

The average price of new flats in Prague increased by 10% to CZK 99,400 per square meter by the end of April. 

This growth rate is actually gradually decreasing as the average price grew by 22.5% last year. According to Deloitte analyst Petr Hana, complete reconstruction of apartment buildings and the increasing growth of markets in the inner city also led to the increasing size and prices of new flats. Altogether, in March and April, the flats were sold for CZK 7.6 billion in 23 projects.

Prague 1 is the most expensive district in Prague with an average price of CZK 218,900 per square meter. The cheapest is Prague 4 with an average of 80,000 crowns. Prices increased the most for Prague 1 by 30.2% and for Prague 10  by 26.6%. In contrast, prices in Prague 6 dropped by 6.4% and in Prague 2 by 1.5%.

In March and April, developers in Prague sold 903 new homes. Most included Finepo (158), followed by the Central Group (139), UBM Bohemia / Crestyl (58), Ekospol (53) and Skanska Reality (43). 

The average sold apartment stood at 6.44 million crowns, its unit price was 97.900 crowns per square meter and its size was 64 square meters.

Author: A.M.