Apartments in the Czech Republic became almost a fifth more expensive in the second quarter, reaching 80,100 CZK/m2

Prague – Prices of apartments in Prague and regional cities increased by an average of 19.6 percent year-on-year in the second quarter of this year, reaching 80,100 korunas per square meter. The growth rate was the highest since 2015. Prague was the most expensive city in the second quarter (105,700 CZK/m²), while Ústí nad Labem was the cheapest (27,700 CZK/m²). This is from a study by the consulting company Deloitte, which processes information on sales prices from purchase agreements recorded in the property register through the portal cenovamapa.org.

Apartment prices increased most in Ostrava (by 37.6 percent), Zlín (by a third), and Karlovy Vary (by 31.7 percent). Prices rose in all regional cities, with the least increase in Liberec (by 7.7 percent), Plzeň (by 11.5 percent), and České Budějovice (by 14.5 percent).

Deloitte monitors the prices of sold apartments in regional cities. In the Central Bohemian Region, which does not have its own regional capital, it is based on the average for Benešov, Beroun, Kladno, Mladá Boleslav, and the districts of Praha-východ and Praha-západ.

In the second quarter, there were 7,718 apartments sold in development projects, both in brick and panel buildings, amounting to 37.8 billion korunas. The number rose by nearly a quarter year-on-year, while the value rose by 45 percent. Development projects accounted for roughly two-fifths of the total number, apartments in panel buildings comprised nearly a third, and brick buildings accounted for about a quarter.

Prices of apartments in brick buildings rose the most, increasing by a quarter to 80,700 korunas per square meter. Prices of apartments in panel buildings increased by 22.3 percent to 65,300 korunas per square meter. In development projects, prices rose by 21.8 percent to 91,500 korunas per square meter.

In the total sales volume, Prague accounted for more than three-fifths in the second quarter. It was followed by Brno (8.4 percent), Plzeň (4.4 percent), Olomouc (3 percent), and Pardubice (2.8 percent).

Compared to the previous quarter, prices in the Czech Republic increased on average by three percent. The largest increase was in Plzeň (by 23.1 percent), in Karlovy Vary (by 12.6 percent), and in Pardubice (by 12.4 percent). Conversely, prices fell in České Budějovice (by 2.3 percent) and Jihlava (by 0.5 percent).

In Prague, apartment prices increased by 19.2 percent year-on-year. The most expensive apartments were sold in Prague 1 (163,800 korunas per square meter), followed by Prague 2 (137,900 CZK). The cheapest were in Prague 4 (98,400 CZK) and Prague 9 (101,200 CZK).

Average prices of sold apartments in the Czech Republic:

Period	Price (CZK/m²)	Year-on-year change (pct)	Quarterly change (pct)
Q4 2015	41,800	-	1.5
Q1 2016	42,400	-	1.4
Q2 2016	45,000	-	6.1
Q3 2016	46,200	-	2.7
Q4 2016	48,100	15.1	4.1
Q1 2017	48,500	14.4	0.8
Q2 2017	49,800	10.7	2.7
Q3 2017	51,600	11.7	3.6
Q4 2017	53,700	11.6	4.1
Q1 2018	56,200	15.9	4.7
Q2 2018	55,200	10.8	-1.7
Q3 2018	56,800	10.1	2.8
Q4 2018	57,200	6.5	0.7
Q1 2019	57,900	3.0	1.3
Q2 2019	60,700	10.0	4.8
Q3 2019	60,700	6.9	0.0
Q4 2019	63,400	10.8	4.3
Q1 2020	65,400	13.0	3.2
Q2 2020	67,000	10.4	2.4
Q3 2020	70,300	15.8	4.9
Q4 2020	73,800	16.4	5.0
Q1 2021	77,800	19.0	5.4
Q2 2021	80,100	19.6	3.0

Source: Deloitte

Prices of sold apartments in regional cities of the Czech Republic in the second quarter of 2021 (CZK/m²):

City	Price	Year-on-year change (pct)	Quarterly change (pct)
Prague	105,700	19.2	5.8
Brno	85,100	24.2	6.3
Central Bohemia	67,200	16.7	1.8
Plzeň	57,100	11.5	9.7
Hradec Králové	59,700	21.1	7.8
Olomouc	57,100	19.2	7.2
České Budějovice	54,400	14.5	-2.3
Liberec	48,800	7.7	4.8
Pardubice	56,000	26.7	12.4
Zlín	57,700	33.3	23.1
Jihlava	46,000	17.6	-0.5
Karlovy Vary	37,000	31.7	12.6
Ostrava	38,400	37.6	11.5
Ústí nad Labem	27,700	30.7	3.6
Average Czech Republic	80,100	19.6	3.0

Source: Deloitte