November 2019: New Apartment Prices in Prague Continue to Rise
A study by the international economic consulting firm Deloitte showed that the prices of new apartments in Prague continue to rise. In August 2019, the prices of new apartments in the city increased by 7.7%. The average price reached 110,000 CZK per square meter.
Although the number of available apartments on the Prague real estate market increased by 2.3% to 5,441 housing units, this current increase is actually one of the lowest (in fact, the second lowest) since Deloitte began its research — indicating that the price increase is an attempt to match demand.
Nevertheless, the trend of rising new apartment prices in Prague is in full swing
Since mid-2015, prices of new apartments have risen by 90%. In Prague District 1, the price per square meter reached 193,000 CZK. However, this is the only district in the city where prices slightly dropped over the past year, while in the rest of the city, new apartment prices continued to rise and, as mentioned, are still increasing.
By the way, speaking of new apartments, this is the new project we’re currently marketing in Prague’s Old Town. Yields of 7–10% per year from tourism and 60% financing from a local bank.
