The interest in new apartments in Brno is high, the average price per square meter is 113,000 CZK.

Brno – In the second quarter of this year, the highest number of apartments in new buildings was sold in Brno since the same quarter of 2016. This is also more than in the previous two quarters combined. Demand for new apartments remains strong despite rising prices. The average price per square meter in a new apartment has increased to 113,000 crowns. This is according to an analysis by Trikaya, which has been monitoring the price trends of new housing in Brno for a long time.

In the second quarter of this year, 503 new apartments were sold in Brno. This is the highest number for a single quarter since the second quarter of 2016, when sales, according to Trikaya's data, were 559 apartments. Since then, quarterly sales have ranged between 200 and 300 apartments, but there were also quarters when the number did not even reach a hundred. The reason is the limited possibilities for the construction of development projects.

The sales of such projects have boosted the numbers for the second quarter of this year. "Demand for apartments has been strong for a long time, and in the last quarter, it is also boosted by the looming increase in interest rates. Buyers are trying to take advantage of the last opportunities to negotiate favorable loans with a rate below two percent. In the last three months, there has also been a mass closing of business transactions in several development projects, which also contributed to the above-standard number of sold apartments," said Alexej Veselý, the executive director of Trikaya.

Currently, there are 220 one-room, 139 two-room, 60 three-room, and 30 four-room apartments in new buildings on offer in Brno. Two-thirds of the offered apartments are in the Brno-střed and Brno-sever districts. "The area around Francouzská, Bratislavská, and Cejl streets has become a strongly developing area in recent years. It is the most construction-active location in Brno, where several interesting projects are emerging. The increased interest in apartments in this area close to the center is also driving up property prices," added Veselý.

While a year ago, the price per square meter in a new apartment in Brno averaged 86,800 crowns, this year the average price has increased to 113,000 crowns, an increase of 30 percent. Average prices per square meter have already exceeded 100,000 crowns for all layouts. The most expensive are, on average, one-room apartments, where one square meter costs 118,000 crowns, two-room apartments cost 109,500 crowns, three-room apartments cost 102,000 crowns, and four or more room apartments cost 107,000 crowns per square meter.