Central bank: price of flats in Czechia overinflated

01-12-2019

The price of flats in the Czech Republic is overinflated by 15 to 20 percent, according to the Czech National Bank. However, the bank board has not changed its recommendations for mortgage lending. The forecast is that the growth in real estate prices will slow in the coming months.

According to Deloitte, the price of an apartment in the Czech Republic rose to CZK 60,700 per square meter this year. An apartment with an area of 70 meters is selling for 4.2 million on average. In the large cities, especially Prague and Brno, prices are significantly higher.