Feb 28, 2024

Property Prices Around Prague Metro Stations Increase

Over the past seven years Valuo, a company specialising in property valuation and related data collection, has meticulously tracked price trends within the Prague metro area.

Its efforts have revealed a remarkable 68% increase in prices along the green line (Line A), where figures soared from an initial 79,000 CZK/m² to over 130,000 CZK/m². This sustained growth highlights the unwavering demand for housing near metro stations.

Valuo’s analysis has been instrumental in providing insights into the real estate market. It focused on 80 m² apartments in personal ownership that have undergone full renovations. Leveraging data from finalised offers on real estate platforms, Valuo has offered a clear picture of the selling prices—a task not feasible with land registry data alone, which often lacks detailed information on the condition and floor area of sold properties.

In its selection, only apartments located within a maximum of 1km from the nearest metro station were considered. An exception was made for the Letňany station on the red line (Line C), which is less densely populated and therefore the radius was expanded to 1.5km.

Despite the uncertainties of 2022, 2023 showcased Prague’s resilience in maintaining high property values. According to Valuo’s findings, most locations around metro stations experienced price increases, though not quite reaching the heights of early 2022.

 

Highest Prices to be Found Along the Green Line (Line A)

Valuo’s data consistently shows that apartments near the green line fetch the highest prices. With an average price of 132,400 CZK/m², it stands as the priciest option, 17% higher than those around the red line (Line C). The most expensive properties are near Malostranská and Staroměstská stations, while the cheapest on this line do not dip below 100,000 CZK/m².

For those seeking more affordable housing, Valuo suggests looking towards Černý Most (the end of the yellow line, Line B) or Opatov on the red line (Line C), where renovated 80 m² apartments are available for less than 90,000 CZK/m².

The red line remains the most budget-friendly option, yet even here, average prices have seen a 9% increase year-on-year. The highest costs for housing along this line are near Hlavní nádraží, I. P. Pavlova, and Muzeum stations. In 2022, an 80 m² apartment near Hlavní nádraží would average at 10,732,000 CZK, while last year, the price rose to 12,390,480 CZK.

Valuo reports an average 8% price increase for apartments along the yellow line (Line B), with housing costs rising at 19 of the 24 stations year-on-year. The peak prices are near Kolbenova station, at 116,100 CZK per m². The city center remains the most expensive area on the yellow line, particularly around Náměstí Republiky, Karlovo náměstí, and Národní třída stations.

The prestige of living near one of Prague’s metro stations is unequivocally confirmed by the consistently rising apartment prices in these areas. Valuo’s analysis of 2023 sales data indicates the high mortgage interest rates have not deterred the sale of apartments in Prague. This trend is reflected in the prices near metro stations, which have mostly seen single-digit percentage increases year-on-year, contrasting with price drops in other major cities such as Ostrava, Olomouc, or Plzeň.

As long-standing collaborators with Valuo, we will continue to monitor and report on these trends.

Explore the evolution of apartment prices around Prague’s metro stations since 2017 through Valuo’s interactive map

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