Report: Price of older flats in Czechia down 9% year-on-year

The average price of older apartments in Czechia has declined by 9 percent year on year to CZK 82,351 per square metre, the Czech News Agency reported on Sunday, citing a study by real estate group European Housing Services (EHS).

The fall in prices has led to a two-thirds increase in sales of older flats at national level compared to the year before last, the report found.

However, sales of older apartments in Prague are at their lowest level in four years.

Prices of older flats in the capital stopped falling with the spring and rose one percent quarter-on-quarter to CZK 113,187 per square metre, but still declined by 7.9 percent year-on-year, according to EHS.