Deloitte Develop Index
How is the price of real estate in Prague changing?
The Deloitte Develop Index monitors the qualitative and quantitative indicators of supply and demand on Prague’s development market. Its task is to describe, on a bi-monthly basis, the current state of the residential market and its development. The set of indicators is based solely on declaratory information obtained from the websites of individual development companies and pricelists of development projects. The basis of the index is formed by the numbers and proposed prices of vacant units under development projects towards the end of the monitored period.
The offer price of apartments in Prague rose by 5% during the first months of the year, i.e. the price of a square metre was CZK 149,100 on average. The biggest leap was recorded in Prague 7 with a growth of 61%. In this district, which became the most expensive one in Prague, the buyers paid CZK 216,300 per square metre. It overtook Prague 1 where the prices decreased in January and February by 7.92% to CZK 200,200 per square metre. The third most expensive district was Prague 2 with an average price of CZK 193,900 per square metre. The cheapest apartments could be found in Prague 10 (CZK 135,900 per square metre), Prague 8 (CZK 138,900 per square metre) and Prague 4 (CZK 141,400 per square metre).
The offer price of new apartments in Prague continued to rise – by 2.2% in the last months of 2021. Buyers paid CZK 142,000 per square metre on average. There were 2,470 new apartments on offer in Prague in November and December, with an average area of 65.6 square metres. The highest price increase was observed in Prague 2 (by 4.9% to CZK 195,700 per square metre). There was no price decrease recorded in any of the districts. Prague 1 remains the most expensive district, where a new apartment reaches an average price of CZK 217,400 per square meter.
Compared to the previous period, the offer price of new apartments in Prague increased by 3.8%. In September and October, the price rose to CZK 138,900 per sq. metre. The most significant growth was recorded in Prague 9, where buyers paid on average 8.9% more, i.e. CZK 131,900 per sq. metre. By contrast, prices for new apartments fell only in Prague 7, decreasing by 4.0% to an average of CZK 134,100 per sq. metre. The most expensive apartments in the long term remain in Prague 1 (CZK 208,500 per sq. metre), while the cheapest new apartments are available in Prague 10 (CZK 127,200 per sq. metre).