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.
Prices of apartments in the Czech Republic continued to rise in the second quarter of 2022. In the measured period, the average price per square metre increased by 2.9% to CZK 93,100. Only Hradec Králové recorded a price decline of 10% to CZK 68,500 per sqm. On the other hand, the prices of apartments in Ústí nad Labem increased the most (by 10% to CZK 40,200 per sqm), even though it is the regional city with the cheapest apartments in the Czech Republic. The city where buyers paid the most for a new apartment was Prague, where the price rose by 3.8% to CZK 122,900 per sqm.
The trend of rising prices of Czech flats continued in the first quarter of 2022. Buyers in Prague and regional cities paid 3.1% more, the price per square metre rose to CZK 90,500 on average. The most expensive flats remained in Prague (CZK 118,500 per sqm), while the most affordable ones were in Ústí nad Labem (CZK 36,500 per sqm). Ústí nad Labem is also the only regional city where flat prices fell by 2.1%. All other cities recorded price increase, the largest in Brno (by 11.2%) and Hradec Králové (by 18.9%)..
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).