The market revival has been driven by multiple factors: buyers waiting for cheaper mortgages have returned, and institutional investors are now acquiring entire apartment buildings for rental purposes. According to Martin Vašek, CEO of ČSOB Hypoteční banka, both new constructions and older properties saw strong demand in Q4 2024.

The situation is particularly challenging for young families, with eight out of ten Czechs considering homeownership financially unattainable, according to an Ipsos survey for Komerční banka. In major Czech cities, the average apartment now costs 110,100 crowns per square meter, meaning a typical 70-square-meter apartment comes with a price tag of approximately 7.7 million crowns.

Looking ahead, experts predict continued price growth. Komerční banka forecasts an 8.1% increase in house and apartment prices this year, while the Czech National Bank projects a more conservative 5.7% rise. Early 2025 data already confirms this trend, with older apartments seeing an 18% price increase in the first quarter.

Created by the team of CzechTrade Shanghai
Source: Czech Daily