Deloitte Real Index
How do real prices of flats in the Czech Republic develop?
Deloitte Real Index provides data about real prices of flats in Prague and regional cities. It collects data only from realised sales of flats which were registered in the Real Estate Cadastre in the form of purchase contracts. It compares results with the previous quarter and contrasts prices in the segments of new development, panel buildings and brick buildings.
The average price of apartments in Prague and regional cities continued to rise at the end of 2021. In November and December, it increased by 4%, so buyers paid CZK 87,700 per square metre on average. The highest price increase – by 12.3% – was recorded in Zlín, where one square metre cost CZK 63,600. An increase of more than 10% was also observed in Ústí nad Labem (+11.4%) and Jihlava (+10.2%). On the contrary, prices decreased in Hradec Králové (-8%), Liberec (-5.7%), and slightly in Brno (-1.9%). The most expensive apartments were in Prague (CZK 113,500 per sqm) and in the Central Bohemian Region (CZK 77,100 per sqm). The lowest average price per square metre was observed in Ústí nad Labem (CZK 37,300), Karlovy Vary (CZK 41,400), and Ostrava (CZK 44,400).
In the third quarter, prices of apartments in Prague and regional cities rose again, this time by 5.2%. The price per sq. metre averaged CZK 84,300. Particularly fast price growth was recorded in Liberec (+29.6%, CZK 63,200 per sq. metre) and Ústí nad Labem (+20.9%, CZK 33,500 per sq. metre). Despite this, Ústí nad Labem remains the regional city with the cheapest apartments in the Czech Republic. Prague is at the other end of the scale, having the most expensive apartments in the long term – buyers pay an average of CZK 109,800 per sq. metre. In total, 6,570 apartments were sold in the Czech Republic in the third quarter of 2021 for approximately CZK 32.8 billion.
As well as in the first quarter of 2021, the sale prices of apartments grew in most regional cities in the Czech Republic in the second quarter of the year. Prices increased by approximately 3.0% to CZK 80,100 per sq. metre, the only exceptions being Jihlava (a decrease of 0.5% to CZK 46,000 per sq. metre) and České Budějovice (a decrease of 2.3% to CZK 54,400 per sq. metre). On the contrary, the highest rise was recorded in Zlín – by 23.1% to approximately CZK 57.700 per sq. metre. The most expensive apartments in the Czech residential market remain those in Prague with a price of CZK 105,700 per sq. metre. On the other hand, the cheapest apartments are in Ústí nad Labem for approximately CZK 27,700 per sq. metre.