Prague drives up prices on older real estate

Prague drives up prices on older real estate

Published at: 2019-02-11 10:49 | Author: CIJEurope.com
Prices of older flats rose 32 percent on average in 2018 to CZK 52,997 per square meter in the Czech Republic. Its stock of houses saw values rise just 8 percent, ending up at CZK 29,529 per sqm, with the most expensive older flats and houses to be found in Prague. The Usti region currently features the cheapest older stock of residential real estate, according to a report by the real estate server Bezrealitky.cz. Denik.cz cites the server's director Hendrik Meyer as saying that the rise in the nation's average price is due mainly to the situation in Prague, where a lack of supply is driving up values. Meyer warns that the trend will continue and that prices could rise even more quickly this year than in 2018.

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