Study: Flats in the Czech Republic rose by almost a fifth in Q2 to CZK 80,100 / m2
Updates: 10/10/2021 10:10 AM
Released: 10.10.2021, 10:10
Prague – In the second quarter of this year, apartment prices in Prague and regional cities rose by 19.6 percent year-on-year to CZK 80,100 per square meter. The growth rate was the highest since 2015. In the second quarter, the most expensive was Prague (105,700 crowns per square meter), the cheapest was Ústí nad Labem (27,700 CZK / m2). This follows from studies by the consulting company Deloitte, which uses the cenovamapa.org portal to process information on sales days from purchase contracts registered in the real estate cadastre.
Year-on-year, flats rose the most in Ostrava (by 37.6 percent), Zlín (by a third) and Karlovy Vary (by 31.7 percent). Prices rose in all regional cities, None in Liberec (by 7.7 percent), Pilsen (by 11.5 percent) and České Budějovice (by 14.5 percent).
Deloitte monitors the prices of flats sold in regional cities. In the Central Bohemian Region, which does not have its regional seat, it is based on the effect of Benešov, Beroun, Kladno, Mladá Boleslav and the districts of Prague-East and Prague-West.
In the second quarter, 7,718 flats were sold for 37.8 billion crowns in development projects, brick and panel houses. The number increased by less than a quarter year-on-year, the value increased by 45 percent. Two-fifths of the following number may seem like development projects, less than a third belonged to flats in prefabricated houses, and brick houses accounted for about a quarter.
Prices of dwellings in brick houses increased the most, by a quarter year-on-year to CZK 80,700 per square meter. Prices of flats in prefabricated houses rose by 22.3 percent to 65,300 crowns per square meter. In development projects, they increased by 21.8 percent to 91,500 crowns per square meter.
In the second quarter, Prague accounted for more than three-fifths of the total sales volume. This was followed by Brno (8.4 percent), Plzeň (4.4 percent), Olomouc (three percent) and Pardubice (2.8 percent).
Compared to the previous quarter, prices in the Czech Republic increased by three percent as a result. Most, by 23.1 percent, in Pilsen, in Karlovy Vary by 12.6 percent and in Pardubice by 12.4 percent. On the contrary, prices fell in České Budějovice (by 2.3 percent) and Jihlava (by 0.5 percent).
In Prague, apartment prices rose by 19.2 percent year on year. The most expensive apartments are sold in Prague 1 (163,800 crowns per square meter) in front of Prague 2 (137,900 CZK). The cheapest were Prague 4 (CZK 98,400) and Prague 9 (CZK 101,200).
Average prices of flats sold in the Czech Republic:
Period | Price (CZK / m2) | Year-on-year change (pct) | Quarter-on-quarter change (pct) |
Q4 2015 | 41,800 th most common | – | 1.5 |
Q1 2016 | 42,400 th most common | – | 1.4 |
Q2 2016 | 45 000 | – | 6.1 |
Q3 2016 | 46,200 th most common | – | 2.7 |
Q4 2016 | 48,100 th most common | 15.1 | 4.1 |
Q1 2017 | 48,500 th most common | 14.4 | 0.8 |
Q2 2017 | 49 800 | 10.7 | 2.7 |
3rd quarter 2017 | 51,600 th most common | 11.7 | 3.6 |
4th quarter 2017 | 53,700 th most common | 11.6 | 4.1 |
1st quarter 2018 | 56,200 th most common | 15.9 | 4.7 |
2nd quarter 2018 | 55,200 th most common | 10.8 | -1.7 |
3rd quarter 2018 | 56,800 | 10.1 | 2.8 |
4th quarter 2018 | 57,200 th most common | 6.5 | 0.7 |
1st quarter 2019 | 57,900 th most common | 3.0 | 1.3 |
2nd quarter 2019 | 60,700 th most common | 10.0 | 4.8 |
3rd quarter 2019 | 60,700 th most common | 6.9 | 0.0 |
4th quarter 2019 | 63,400 | 10.8 | 4.3 |
1st quarter 2020 | 65,400 | 13.0 | 3.2 |
2nd quarter 2020 | 67 000 | 10.4 | 2.4 |
3rd quarter 2020 | 70,300 th most common | 15.8 | 4.9 |
4th quarter 2020 | 73,800 | 16.4 | 5.0 |
1st quarter 2021 | 77,800 | 19.0 | 5.4 |
2nd quarter 2021 | 80,100 th most common | 19.6 | 3.0 |
Prices of flats sold in regional cities of the Czech Republic in the second quarter of 2021 (CZK / m2):
City |
Price |
Year-on-year change (pct) |
Quarter-on-quarter change (pct) |
Prague |
105,700 |
19.2 |
5.8 |
Brno |
85,100 th most common |
24.2 |
6.3 |
Central Bohemian Region |
67,200 th most common |
16.7 |
1.8 |
Pilsen |
57,100 th most common |
11.5 |
9.7 |
Hradec Králové |
59,700 th most common |
21.1 |
7.8 |
Olomouc |
57,100 th most common |
19.2 |
7.2 |
Czech Budejovice |
54,400 th most common |
14.5 |
-2.3 |
Liberec |
48 800 |
7.7 |
4.8 |
Pardubice |
56 000 |
26.7 |
12.4 |
Zlín |
57,700 th most common |
33.3 |
23.1 |
Jihlava |
46 000 |
17.6 |
-0.5 |
Carlsbad |
37 000 |
31.7 |
12.6 |
Ostrava |
38,400 th most common |
37.6 |
11.5 |
Usti nad Labem |
27 700 |
30.7 |
3.6 |
The Czech Republic average |
80,100 th most common |
19.6 |
3.0 |
Source: Deloitte