Czech apartment prices down slightly in second quarter

The average price of flats in Czechia fell by 1.4 percent quarter-on-quarter to CZK 90,900 per square metre in the second quarter of this year, according to data released by consulting company Deloitte on Monday. It was the third consecutive quarter in which apartment prices declined.

All large Czech cities, apart from Pardubice, Jihlava and Ostrava, saw prices fall in the second quarter.

A Deloitte representative said the decline was not dramatic but part of a continuing trend, with demand for flats on the wane due to high inflation and rising energy prices, as well as a jump in interest rates and construction prices.