Report: Price of new flats in Prague jumped by almost fifth in 2017

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.