The apartments in Prague’s Old Town are the most sought-after in Central Europe.

A new European real estate survey reveals a surprising finding – the average apartment in central Prague is more expensive than its counterpart in other European capitals. The survey was conducted by Numbeo, the world’s largest real estate database and a trusted source for comparing housing prices.

In nominal terms, the most expensive apartments in Central Europe are located in Munich, Germany, but in real terms, the Czech capital takes the lead – the average price per square meter for an apartment in Prague’s city center is currently 124,098 CZK.

According to Novinky.cz, this amount equals approximately 419% of the average monthly net salary. For comparison, the cost of new apartments in other Central European capitals is significantly lower: 378% in Munich, 295% in Warsaw, 292% in Bratislava, 292% in Kraków, and 258% in Brno.

Just like in any other city, there is a stark difference in property prices between the center and the outskirts. The conclusion is clear – Prague’s Old Town is becoming a luxury, tourist-oriented neighborhood with rising demand for apartments. Similar trends can be seen in places like Jerusalem’s Old City, Times Square in New York, or Piccadilly Circus in London.

Want to get your hands on an apartment in Prague’s Old Town? We’ll be happy to help you.