In the first nine months of 2024, 5,350 apartments were sold in the Czech capital - twice as many as in the same period of 2023. Developers expect total sales to reach 7,000 units by the end of this year, which corresponds to a record high in 2021.
The cost of housing increased by 7% year-on-year, to an average of 160,720 kronor per square meter (6,400 euros).
The average apartment is 70 sq. m. m in Prague now costs 11.25 million Czech crowns (450,000 euros), according to a Central Group study.Ten years ago, this figure was almost three times less and amounted to about 4 million Czech crowns.
There are no prerequisites for lowering prices, since demand exceeds supply.
Developers plan to build 146,000 new apartments, but only 5,270 construction permits have been issued this year.Experts say that this is not enough. To meet the growing demand, it is necessary to issue at least 10,000 permits per year.Source: Expats.cz
