Prague apartment prices reach record high

The average price of apartments sold in Prague grew by 8 percent year-on-year in the first quarter of 2016, according to figures compiled by a group of developers cited by the Czech News Agency. The average price per metre in the period from the start of January to the end of March was a record CZK 60,517, the survey found. The rise has been attributed to a marked decline in supply; the developers said the number of flats offered on the capital’s property market had fallen 20 percent year on year.