Denik.cz writes that the boom in Prague residential prices has hit the family home market nearly as hard as it has the apartment market. Prices for them have doubled in some locations over the past three years, pushing demand demand to the outskirts and beyond. At the same time, writes the daily, prices for older houses in need of reconstruction located in villages have also risen quickly, to the point where it’s impossible to find a home for less than CZK 8 million. “In terms of new homes, the average price is around CZK 10m, which means prices have gone up at least another 10 percent over the last year,” says M&M Reality director for the Prague region Jan Martina. It’s gotten to the point where “second hand” homes within a few miles of the edge of Prague now cost what an older building in Prague 4 – Branik used to cost just a few years ago.
Photo: Getberg
