Sales prices of older flats in the Czech Republic at the end of the first quarter rose by an average of 22.5 percent year on year to CZK 80,367 per sqm.
The most expensive was Prague (CZK 104,103 per sqm), the cheapest was the Ústí nad Labem region (CZK 25,819 per sqm), according to the company Bezrealitky.
“Even a year with coronavirus did not stop the growth of prices of older housing. Records and major milestones fell across the country. Older apartment in Prague is selling for more than CZK 100,000 per sqm. This is the price at which it was possible to buy apartments in mid-2018. For the first time, prices in Brno exceeded CZK 70,000 per sqm, “said Hendrik Meyer, director of Bezrealitky.
After Prague, the most expensive flats were in the South Moravian Region (CZK 70,923 per sqm) and the Central Bohemian Region (CZK 58,705 per sqm).
The cheapest Ústí nad Labem region was followed by the Moravian-Silesian region (CZK 33,145 per sqm) and Vysočina (CZK 34,036 sqm).
Year-on-year, prices rose the most in the Liberec Region, by 57.1 percent. In the Ústí nad Labem Region they increased by 42.8 percent, in the Hradec Králové Region they increased by less than two fifths. On the other hand, in the Vysočina region, older apartments fell by 4.4 percent cheaper, in Prague they rose by about one-tenth.
“At the same time, the hunger for recreational real estate also had a significant effect on the prices of ordinary flats. For example, in the Liberec region, due to increased demand for flats and apartments that can be used for leisure time, the price of flats rose by a third in a single quarter. also the Hradec Králové region due to the demand for flats in the Giant Mountains and the Eagle Mountains,” added Meyer.
At the end of the first quarter, the average price of older family houses in the Czech Republic rose by 12 percent year on year to CZK 42,624 per sqm.
The most expensive were in Prague with an average price of CZK 77,103 per sqm, followed by Central Bohemia (CZK 54,440 per sqm), South Moravia (CZK 43,430 per sqm) and the Karlovy Vary region (CZK 33,562 per sqm). On the other hand, the cheapest houses were in the Zlín Region (CZK 24,335 per sqm), the Ústí Region (CZK 25,657 per sqm) and the Vysočina Region (CZK 26,727 per sqm).
In a year-on-year comparison, the prices of family houses rose the most in the South Moravian Region, by 34.9 percent. This was followed by the Pardubice Region (by 30.9 percent) and the Ústí nad Labem Region (by 27.2 percent).
On the other hand, in the South Bohemian, Plzeň, Karlovy Vary and Hradec Králové regions, prices fell by an average of five to seven percent.