The most expensive new apartments in Prague are in the second district with an average price of CZK 207,465 per square meter. The cheapest place to buy an apartment in the metropolis is in its southeast, specifically in Zbraslav. The largest selection of apartments is in the third, fifth and ninth city districts. This follows an analysis from Skanska.
In Prague 2, the year-on-year supply has decreased by almost half, according to Skansky data, there are currently 102 new apartments available, and the price has increased by 33 percent compared to last year. Prague 1 has limited options and there is not a single new apartment available at the moment. Year-on-year price growth in other city districts is around 17 percent. The highest jump was recorded in Prague 7, where the average price increased by almost half and climbed to CZK 194,888 per square meter.
Together with Prague 2 and 7, Prague 6 is also among the most expensive locations. In Dejvice and its surroundings, the average price of new apartments is CZK 181,967 per square meter. “One of the main reasons for the increase in prices for new housing in Prague is the long-term low supply,” said Renata Vildomcová, director of the communications department of residential developer Skanska. The largest year-on-year decrease was recorded in Prague 10, where the supply decreased by 36 percent.
On the contrary, according to Skansky, Prague 5 has experienced a boom in recent years. There are 561 new apartments on offer here, which is a year-on-year increase of nine percent. In Prague 14 and 15, new projects entered the offer, and overall there are 488 more apartments in these parts than last year. “The supply of new apartments in the second quarter of this year is good news for the market. However, in order to have a truly visible effect, growth would have to be long-term and generated by new projects, not stagnation, which is currently caused mainly by the unavailability of mortgages,” stated Vildomcová .
The most affordable apartments are in Zbraslav in Prague, at an average price of CZK 113,027 per square meter, and in the city districts of Lochkov (CZK 115,628/sqm) and Lipence (CZK 116,199/sqm). On average, Prague 19 is also below the threshold of CZK 120,000 per square meter, according to the data.
While most prices rose compared to last year’s second quarter, the average price of new apartments fell, specifically in Troja. The prices of new apartments here decreased by 12 percent year-on-year to CZK 146,982 sqm. “The previous only luxury offer has been supplemented with more standard units,” says Skanska.
The average offer price of new apartments in Prague in the second quarter of this year was 152,051 crowns per square meter, which was 17 percent more year-on-year. An analysis of the development companies Trigema, Skanska Reality and Central Group from the end of July showed that the average price of a sold apartment was 145,783 crowns per square meter.
Source: Skanska and CTK
