Old Houses and Flats Only 6% Cheaper Than New Properties by End of 2020

2020 brought with it several major trends. Despite the continuing rise in real estate prices, the Czechs’ desire to invest in real estate did not decrease – especially in smaller apartments and older houses with good public transport connections.

Their number increased by 36% year-on-year, supported by greater availability of rental apartments and declining rental prices. In the largest Prague market, rents returned to the level of 2018 at the end of the year.

Key reasons for this development lies in the greater availability of rental apartments and decreasing rental prices. Rent prices equivalent to prices in 2018.

On another note, sale prices of old houses and flats increased despite the Covid-19 pandemic, with a year-on-year increase of 13%, the average price of a house went up to 37 635 CZK per square meter, while apartments increased to 67 517 CZK per square meter.

Real estate prices increased the most, year-on-year, in the Hradec Králové Region (houses by 31%, flats by 24%), in the Ústí Region (houses by 33%, flats by 18%) and the Plzeň Region (houses by 26%, flats by 16%).

Flats in the capital remain the most expensive, where the average price in 2020 was around 95,196 CZK per square meter, followed by Brno and flats in the South Moravian Region, with an average price of CZK 64,999 per square meter. Flats in the Central Bohemian Region have an average price of CZK 53,102 per square meter.

In both Brno and the Central Bohemian Region, apartment prices increased at an above-average 18% rate year-on-year. In the fourth quarter of 2020, for the first time, Prague’s second-hand apartments fluctuated above 100,000 CZK per square meter.

The price of Prague’s new buildings declared by the developers was just below 108,000 per square meter, and at the end of the year, an older apartment in Prague was only 6% cheaper than a new one.

In Prague and Brno, because of the inflating prices, the total area of ​​real estate sold has fallen again, and people are trying to compensate for the increase in prices with smaller flats. On the contrary, in the Central Bohemian Region, people are more willing to pay extra, but this is also due to the fact that a large part of the demand is from neighboring Prague.

Ceny za m2 bytů

Q1 2020

Q2 2020

Q3 2020

Q4 2020

Hlavní město Praha

94 103 Kč

94 619 Kč

92 031 Kč

101 033 Kč

Středočeský kraj

51 005 Kč

51 301 Kč

55 772 Kč

53 958 Kč

Jihočeský kraj

35 323 Kč

38 598 Kč

40 791 Kč

42 672 Kč

Plzeňský kraj

41 042 Kč

42 362 Kč

44 075 Kč

50 041 Kč

Karlovarský kraj

29 662 Kč

28 667 Kč

31 932 Kč

31 696 Kč

Ústecký kraj

18 082 Kč

21 392 Kč

18 929 Kč

22 432 Kč

Liberecký kraj

41 422 Kč

38 050 Kč

42 003 Kč

48 484 Kč

Královéhradecký kraj

41 547 Kč

46 564 Kč

46 490 Kč

48 940 Kč

Pardubický kraj

37 244 Kč

40 374 Kč

40 137 Kč

38 902 Kč

Olomoucký kraj

37 942 Kč

39 228 Kč

38 920 Kč

36 816 Kč

Jihomoravský kraj

61 933 Kč

60 825 Kč

65 797 Kč

68 211 Kč

Zlínský kraj

36 506 Kč

40 618 Kč

41 057 Kč

40 782 Kč

Vysočina

35 596 Kč

41 016 Kč

39 253 Kč

37 959 Kč

Moravskoslezský kraj

24 838 Kč

27 369 Kč

28 888 Kč

26 486 Kč

Celá ČR

65 600 Kč

66 292 Kč

66 697 Kč

71 567 Kč

Ceny za m2 rod. domů

Q1 2020

Q2 2020

Q3 2020

Q4 2020

Hlavní město Praha

74 950 Kč

68 892 Kč

72 035 Kč

70 417 Kč

Středočeský kraj

47 161 Kč

43 276 Kč

43 745 Kč

47 276 Kč

Jihočeský kraj

30 630 Kč

25 523 Kč

24 381 Kč

27 615 Kč

Plzeňský kraj

28 245 Kč

30 541 Kč

28 320 Kč

28 568 Kč

Karlovarský kraj

35 587 Kč

29 656 Kč

14 152 Kč

22 245 Kč

Ústecký kraj

20 178 Kč

22 466 Kč

22 537 Kč

28 188 Kč

Liberecký kraj

26 447 Kč

29 455 Kč

32 418 Kč

27 129 Kč

Královéhradecký kraj

31 129 Kč

26 686 Kč

27 330 Kč

38 414 Kč

Pardubický kraj

24 592 Kč

27 355 Kč

25 966 Kč

27 495 Kč

Olomoucký kraj

22 683 Kč

31 325 Kč

21 694 Kč

29 362 Kč

Jihomoravský kraj

32 184 Kč

33 468 Kč

36 371 Kč

38 688 Kč

Zlínský kraj

23 568 Kč

15 723 Kč

17 642 Kč

16 997 Kč

Vysočina

21 491 Kč

21 526 Kč

17 439 Kč

31 318 Kč

Moravskoslezský kraj

25 805 Kč

23 642 Kč

28 808 Kč

32 787 Kč

Celá ČR

38 063 Kč

36 075 Kč

35 901 Kč

40 426 Kč

Because of the rising real estate prices, coupled with the instability and uncertainty the pandemic presents, a record number of Czechs have rented out their properties, using favorable prices.

Bezrealitky, which have about a fifth of the share of all rents in the Czech Republic, and a 40% share of all rents in Prague, 47,000 houses and flats were rented last year. The biggest number ever documented through the portal. The largest year-on-year increase in the number of leased properties was recorded in Prague, where even 50% more houses and flats were rented. People in other regions also rented out their properties more – 38% more flats and houses were rented in the Liberec region, for example.

The incline towards rents was supported by the stagnation of rental prices. “How long prices remain at current levels will only depend on the recovery of the tourist market. In Prague, we can expect a jump in prices and a decrease in the number of flats on offer when tourism resumes”, explains Hendrik Meyer. “In Brno, where supply is influenced more by local residents, rental prices will be affected mainly by the overpressure of demand.”

Nájem za m2 bytů

Q1 2020

Q2 2020

Q3 2020

Q4 2020

Hlavní město Praha

293 Kč

276 Kč

273 Kč

267 Kč

Středočeský kraj

212 Kč

206 Kč

207 Kč

206 Kč

Jihočeský kraj

168 Kč

169 Kč

177 Kč

162 Kč

Plzeňský kraj

185 Kč

180 Kč

184 Kč

185 Kč

Karlovarský kraj

149 Kč

158 Kč

149 Kč

147 Kč

Ústecký kraj

143 Kč

145 Kč

146 Kč

147 Kč

Liberecký kraj

171 Kč

172 Kč

171 Kč

169 Kč

Královéhradecký kraj

182 Kč

184 Kč

192 Kč

195 Kč

Pardubický kraj

178 Kč

183 Kč

180 Kč

167 Kč

Olomoucký kraj

176 Kč

180 Kč

177 Kč

176 Kč

Jihomoravský kraj

226 Kč

228 Kč

231 Kč

228 Kč

Zlínský kraj

172 Kč

170 Kč

170 Kč

168 Kč

Vysočina

161 Kč

162 Kč

167 Kč

166 Kč

Moravskoslezský kraj

154 Kč

153 Kč

164 Kč

159 Kč

Celá ČR

250 Kč

248 Kč

245 Kč

240 Kč

Number of leased properties in the Czech Republic over time:

• Q2 2019: 8765

• Q3 2019: 9009

• Q4 2019: 8487

• Q1 2020: 9343

• Q2 2020: 12839

• Q3 2020: 12107

• Q4 2020: 12760

Advertised flats and houses for rent in most cases, found new owners and tenants within three weeks of the properties’ listings. Smaller flats and houses in suburban areas intended for sale, usually found their new owners within a month, while large flats and houses needed about a month and a half. Within three months, more than 95% of all residential properties on offer were sold.

“Undoubtedly, the ongoing digitization of the real estate market and the growing desire to offer their properties directly also play a role in the rapid pace of properties being bought or rented out.”

Bezrealitky is the largest service offering the possibility of direct sale or rental of real estate, and at the same time they are one of the most visited Czech real estate websites.

The portal is visited by more than half a million people interested in housing every month, and every month around 800 people sell their property successfully on the platform, and around 4,000 properties are rented.

The portal saved people around 2 billion CZK in 2020 on commissions, which they would otherwise have to pay to real estate agencies.

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