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 third quarter of 2020 was marked by a mild demand recovery on the residential real estate market. The average selling price of Czech apartments grew and their value increased by 4.9% to CZK 70,300 per square metre compared to the previous period. This is a relatively significant increase by 15.8% in the year-on-year comparison. The fastest price growth was recorded in Pardubice (increasing by 8.3% to CZK 47,900 per square metre) and Ústí nad Labem (increasing by 7.6% to CZK 22,800 per square metre). Conversely, a price drop was recorded in Plzeň (by 5.8% to CZK 48,300 per square meter) and Karlovy Vary (by 1.8% to CZK 27,600 per square metre). In total, 6,284 apartments in the total value of CZK 27.8 billion were sold in Prague and the Czech regional capitals in the third quarter of 2020.
The second quarter of 2020 was once again marked by a slowdown in the price growth of Czech apartments, with the price increasing by 2.4% on average to CZK 67,000, which denotes a year-on-year increase of 10.4%. The fastest price growth was recorded in Plzeň (increasing by 14.7% to CZK 51,200 per square metre), in Liberec (increasing by 10.8% to CZK 45,300 per square metre) and Hradec Králové (increasing by 9.8% to CZK 49,300 per square metre). On the contrary, the largest price fall was recorded in Karlovy Vary (dropping by 2.7% to CZK 51,200 per square metre) and České Budějovice (dropping by 2.7% to CZK 47,500 per square metre). In total, more than 6,000 apartments in the total value of approximately CZK 26 billion were sold in the Czech Republic. The most expensive apartments available for purchase were in Prague with an average price of CZK 88,700 per square metre.
The first quarter of 2020 experienced a moderate slowdown in the price growth of Czech apartments, with the price increasing by 3.2% on average to CZK 65,400 per square metre. The fastest price growth was recorded in Ústí nad Labem, increasing by 16.3% on average to CZK 21,000 per square metre, even though the city still maintains its position as a regional capital with the lowest average price per square metre. On the contrary, the largest fall was recorded in Liberec, with the price dropping by 5.5% on average to CZK 40,900 per square metre. Prague remains the most expensive city with an average growth of 2.1% and CZK 88,100 per square metre. In total, more than 5,700 apartments in the total value of CZK approximately 23 billion were sold in the Czech Republic.