The market for new housing in Brno revived in the third quarter of this year after a year-long downturn, with the highest number of flats on offer in the last ten years. The average price per square metre is around CZK 131,000, according to an analysis by František Šudřich, the director of Impera Styl.
“In the last ten years, the supply of new apartments for sale has never been so high. Those interested in an apartment in a new building can choose from nearly 1,750 available apartments,” Šudřich said. “Three-quarters of them are one- and two-bedroom apartments,” he added.
In the third quarter, 167 flats in new buildings were sold in Brno, which represents an increase. In previous quarters, the number of flats sold was only around 100. “Those interested in new housing have not seen a drop in prices and many of them have adjusted to the current mortgage rates. There has also been a recent easing of lending limits, which has opened up new housing finance options for some buyers,” Šudřich said.
The average price per square meter of new housing has been hovering between CZK 125,000 and CZK 130,000 for a year, and is currently at about CZK 131,000, according to Šudřich. The highest average price per square metre is in the smallest flats with a layout of 1 + kk, where it rises to CZK 135,000, in 3 + kk flats it is CZK 128,500 per square metre.
A one-room apartment with an area of approximately 33 square metres costs approximately CZK 4.5 million. For a four-room apartment of 120 square metres, people will pay over 16 million. “In recent months, the location of the project has been more reflected in the prices of new flats than before. Flats in the Brno-central district are on average more than ten thousand per meter more expensive than, for example, flats in Králově Pole or in the Brno-jih district,” Šudřich added.
He also pointed to the development of prices of older flats in the offers of real estate servers, which at the beginning of this year became cheaper by about 13 percent to an average price per square meter of approximately CZK 89,000. “In recent months, however, the price reduction trend has not continued and flats are no longer getting cheaper. On the contrary, average prices have started to rise slightly to the current value of CZK 91,300 per square metre,” he added.
Source: Impera Styl and CTK
