The average difference between the advertised prices for flats and the actual selling price reached 36 percent in June, according to the start-up Reas. By monitoring both the price that units are advertised and the final price listed by the land registry, it found that 70 percent of all sellers have to compromise on their original demands. The data shows that owners have become increasingly unrealistic in their pricing. In June 2019, the difference between the advertised and final selling price was just 20 percent. “They just try it, even though they’re counting on bringing down the price,” says Veronika Borakova, who’s in charge of marketing at Reas. “That of course takes a lot of time and energy. In addition, a big problem is that the majority of price analyses that turn up are based on advertised prices. But no one sells at the advertised price.”
The average price per square meter for flats sold nationwide in June was CZK 45,934 in June, 0.24 percent higher than in May and about 1.27 percent lower than in June 2019. The picture for Prague 1 was naturally much different, as the average price in the capital’s center was CZK 119,405 per square meter. A single square meter of real estate in Most, by comparison, was CZK 100,000 cheaper.
