The prices of Brno flats are still rising, and real estate outside the city prices has also risen in half
Brno, October 20, 2021 – Prices of new flats in Brno are still rising. In the third quarter, people bought for an average of 5.75 million crowns. For the currently offered flats, those interested paid 124,500 crowns per square meter in protection, which is ten percent more than in the previous quarter, and even 41 percent more than last year. Price growth will not stop even 300 new apartments released for sale, according to a regular analysis by Trikaya.
From July to September this year, a total of 184 people and entities bought a new apartment. Four out of ten apartments sold were studios, which is mainly related to the high investment demand for smaller properties, which offer the best rental income. The smallest sold should have only 23 square meters, the apartment with the largest exchange was six times larger. “For the first time in history, the price of a square meter sold in a new Brno building exceeded one hundred thousand crowns. Thus, every buyer at risk paid 70 percent more for an apartment than five years ago. Even so, the new flats do not remain on offer for long and are usually sold out long before the building approval, ”says Alexej Veselý, CEO of Trikaya.
Brno Bronx: the most expensive location in the city
The average price of vacant flats surprisingly pulls up the desired projects in a long-neglected location near Bratislavská and Cejl streets. The so-called Brno Bronx thus takes the most expensive locality of the city after years. The apartments are offered here with an average price reaching 135 thousand per meter, which is comparable to prices in Prague. People pay 4.5 million crowns for a 30-meter apartment here. “The situation is quite paradoxical, because this location until recently is gaining affordable new apartments near the center. Prejudices of the problematic locality were suppressed by greater availability of real estate. However, the high interest in the tense Brno market quickly screwed up apartment prices in this area as well, despite expectations above the Brno average, ”comments František Šudřich, Trikaya’s sales director.
Two-room apartment for 6.8 million. Last year, the apartment would be 3 + kk
In the last quarter, the offer in new buildings grew by almost 300 flats, which represents advertising by 20 percent. Those interested can choose from a total of 574 apartments. The latest projects include the construction in Táborská Street with 118 flats and the Svratka Residence with 179 flats. However, even this 20% demand offer has not yet led to a slowdown in the dramatic rise in prices. If today people are looking for an apartment that has a furniture room with a kitchenette and one bedroom, they must expect a price of around 6.8 million crowns. Last year, an apartment with three rooms could be bought for similar money.
Real estate outside Brno became more expensive by half a year
An alternative to living directly in Brno have long been apartments in the Brno-venkov district, which are sold at a price of 64,000 per meter. Even there, however, flats are quickly becoming more expensive, and yet there are no family houses or plots of land. In the last year alone, the prices of new flats have climbed by as much as 50 percent, to 95,000 crowns per square meter. “The demand for housing within reach of Brno is great. Due to the extremely high prices, a family apartment in the city is an unattainable goal for many inhabitants, so they resort to its borders. But now it turns out that enormous interest is making apartments more expensive in these areas as well, ”concludes František Šudřich.