After a period of stagnation, prices of apartments and houses in Czechia are again on the rise, according to players on the property market. But what is driving this development? And what other trends can be observed?
According to a study by the real estate service Bezrealitky.cz, property prices in Czechia are beginning to climb again after a period of stagnation.
In the first quarter of 2024, the average price of older flats went up by 2 percent, while dwelling houses saw a similar rise.
This information is confirmed by Petr Hána, head of financial consulting in real estate and construction at Deloitte.
“The factors that negatively impacted the residential market, last year in particular, have either faded away or eased off somewhat; for instance, the price of energy, which has traditionally influenced people’s attitude to buying property. Other factors are the price of labour in construction, and the fall in inflation.”
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Author: Ian Willoughby