Real estate prices continue to rise throughout the country

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Prague Day by day Monitor |

four August 2020

The pandemic hit many markets, but the actual estate business was only minimally impacted. The costs for flats, land, and houses continue to rise, iDnes.cz reports.

Within the first 4 months of 2020, prices for studios in Prague and surrounding cities rose approximately by 13% yr on yr foundation, making it the very best progress price in two years, Expats.cz reports. That brought the prices as much as about 65,400 CZK per sqm. Predictably so, the costliest flats are situated in Prague 1 (159,800 CZK per sqm) and the most cost effective may be found in Prague 10 (77,700 CZK per sqm).

"The growth fee of home costs slowed down within the second quarter, although flats rose in worth in all regions besides Karlovy Range, the place the costs stagnated. Smaller flats in the 2 + 1 and a couple of + KK classes turned the costliest,” stated Petr Němeček, Director of the Real Estate Division of Hypoteční banka, as reported by iDnes.cz.

But, in accordance with Němeček, the growth is predicted to slow down in the upcoming years.

"Real estate might grow to be cheaper within the first half of 2021, but we anticipate a decline solely in decrease proportion models. Compared to current years, a more vital decline in demand for investment is predicted," said Němeček.

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