The average price of new apartments in Prague grew by 19 percent year on year in 2017, according to a study produced by the property development companies Trigema, Skanska Reality and Central Group. The number of new flats sold last year declined by 17 percent, the report found.
The volume of new properties on the market in the capital last year was half the figure for mid-2015.
Critics say excessive red tape is preventing the construction of sufficient numbers of new apartments, creating a bottleneck and pushing up prices.
Snowboarder Ester Ledecká wins surprise gold in Olympic super-G
My father, the RAF hero who defected from Czechoslovakia in a daring triple-hijack
Czech Republic seen becoming net EU contributor by 2025
Czech PM and president reassert EU and NATO membership commitment
Flag-bearer Samková among Czech Olympic hopefuls