Apartment and Rental Prices in Czechia Continue to Rise Compared to Other European Countries

In a report published by Eurostat (the statistical office of the European Union), it appears that Greece experienced the largest drop in apartment and rental prices among EU countries over the past 12 years (from 2007 to the third quarter of 2019).

By the way, Greece is not alone. There were also declines in apartment prices in other EU countries. For example, Romania saw a decrease of 27.2%, and Ireland experienced a 16.7% drop. But Greece tops the list – with a 40% decrease in housing prices.

Even in terms of rental prices, Greece leads the table with a 17.5% decrease. Cyprus follows with a 0.3% drop.

On the other hand, many EU countries are seeing price increases

For example, in Lithuania (a 101.1% increase), Czechia (78.6%), and Hungary (67.8%), while the average increase is 21% for rental prices and 19.1% for apartment prices.

In general, apartment and rental prices in the EU dropped sharply after the 2008 financial crisis, but apartment prices remained more or less stable between 2009 and 2014. At the beginning of 2015, there was a rapid rise, as apartment prices started increasing much faster than rental prices.

And if you’re particularly interested in Czechia from a real estate perspective, get in touch with us. We’ll be happy to assist you.