Old flat prices up by over 10 percent year-on-year

Prices of older Czech apartments grew by an average 10.9 year-on-year in February, to around 39,000 per square meter, data from the market monitors CeMap show.

The most expensive properties are in Prague, where the average price per square meter for an old flat stood at 92,000 crowns (3,600 euros.) This is five times more than, for example, in the North Bohemian city of Ústí nad Labe.

According to Ondřej Hon of CeMap, the growth of apartment prices is fueled by a shortage of quality property and low building development in larger towns and cities.