Property prices in Czechia rose by 10.7% in 2023, sales up by 34%

Real estate prices in Czechia increased by an average of nearly 11 % in 2024, while property sales surged by 34%, and new developments saw a 51% rise, according to data from the Czech Banking Association and Flat Zone. The market is rapidly returning to pre-crisis levels after a sharp downturn in 2022. Older apartment prices rose by 10% nationwide and 18% in Prague. New builds grew at a slower pace, averaging 8% nationally and 9% in Prague. Housing demand remains highest in Prague, Brno, and Central Bohemia, but slow construction continues to limit supply.