Analysis: Older apartments price rise fastest in Pardubice and Ústí regions

In the first quarter, older apartments recorded the highest year-on-year price increases in the Pardubice and Ústí nad Labem regions. In both cases, their prices rose by roughly one-fifth over the year. One of the reasons is strong demand from investors who have been buying up properties in these two regions. The Ústí nad Labem region showed the largest percentage difference in prices between older buildings and new developments.

According to the analysis, the average price of apartments in the Czech Republic was CZK 89,612 per square metre in the first quarter (up 16% y-o-y). In the Pardubice region, the price per square metre was CZK 70,666 (up 21% y-o-y). In the Ústí nad Labem region, it was CZK 46,333 per square metre, with the price of older apartments rising by 20% over the year. Despite the significant increase, apartments in the northwestern region remained the cheapest in the entire country.

However, prices per square metre in all regions except Prague and the South Moravian region were below the national average. The overall value of older apartments in the Czech Republic was thus driven mainly by prices in the capital, where the average price per square metre reached CZK 153,640 in the first quarter.