Average price of new Prague home rose 18.6 percent in 2018

The average price of new homes sold in Prague reached 101,091 crowns per square metre by the end of 2018, an increase of 18.6 percent year on year, a group of developers said on Wednesday.

The number of residential dwellings sold dropped by 9 percent to 5,000 last year, the lowest since 2012, according to data compiled by the developers Trigema, Skanska Reality and Central Group.

The most expensive flats are traditionally in Prague 1 (currently at 198,000 crowns per sqm on average) and in Prague 2 (164,000 crowns per sqm). The most affordable apartments are in Prague 4 and Prague 10, where the average price is 89,000 crowns per sqm.

In terms of price per square metre, smaller flats are more expensive than larger ones, regardless of location, the developers said.

Author: Brian Kenety