Deloitte Real Index: During Q1, the Actual Selling Prices of Apartments in Prague and the Regional Capitals Increased by 1.4%
Prague, 14 June 2016 – During the first quarter of 2016, the selling prices of apartments in Prague and the regional capitals rose by 1.4% to CZK 42,400 per m2. The highest prices were traditionally recorded in Prague (CZK 57,700 per m2), while the lowest were in the Ústí nad Labem region (CZK 10,400 per m2). The number of sold apartments in development projects as well as brick and prefabricated buildings totalled 5,400 units worth CZK 15.4 billion. The information is based on data obtained from the Cenovamapa.org portal which processes information on the actual selling prices directly from purchase contracts recorded in the real estate register.
+420 775 013 139
Overall, the selling prices in the first quarter of 2016 increased by 11% compared to the 2014 average. In Q1/2016, the average price of apartments sold in the regional capitals including Prague amounted to CZK 42,400 per m2. The most expensive were the apartments in development projects, where the average cost of 1 m2 amounted to CZK 54,300, while the least expensive were the apartments in prefabricated buildings (CZK 32,800 per m2).
The greatest increase in selling prices was seen in Liberec (+12.8%), Zlín (+11.7%) and Olomouc (+8.2%). In contrast, Brno (-6.6%), Karlovy Vary (-4.7%) and České Budějovice (-2%) recorded a decline.
The largest share of the volume of transactions carried out in the regional capitals was, as usual, scooped up by Prague (almost 64%), where CZK 10 billion worth of apartments were sold in Q1. “The differences between the metropolis and other regional capitals are huge, with no other regional capital approaching such volume of transactions – in the case of second place Brno, sales exceeded CZK 1.5 billion, while in Plzeň, they amounted to CZK 533 million,” says Miroslav Linhart, leader of Deloitte’s real estate services.
The capital also ranks first in terms of the price per m2 for which apartments were being sold in Q1. As far as individual city districts are concerned, the most dynamic development was seen by the proportionally smaller market of Prague 7 with an almost 9% inter-quarter increase. In contrast, the largest decline in average prices was recorded in Prague 8.
“Nationwide, the highest number of sales were carried out in prefabricated buildings – over 2,100 of the total of 5,400. Thanks to the advanced development market, the situation in Prague was quite the opposite. More than 1,000 apartments out of the total of almost 2,500 were sold in development projects,” states Petr Hána, a manager in Deloitte’s real estate services department.
About the Deloitte Real Index
The Deloitte Real Index expresses the percentage change in the average prices for which apartments were sold compared to the previous period in the regional capitals in the Czech Republic. It features the price per m2 during the reviewed quarter. The Deloitte Real Index is unique in that the information relates to the sale of apartments registered in the real estate register in the form of purchase contracts. As such, it reflects the actual prices for which the apartments were sold.
For more information visit http://www.deloitte.com/en/real-index.