Residential price inflation slowing in Czech cities

Residential price inflation slowing in Czech cities

Published at: 2019-05-21 09:29 | Author: CIJEurope.com
Prices of flats rose 6.5 percent in Prague and in the regional cities in 2018, which is the slowest increase in two years. It brought the average price per square meter for apartments to CZK 57,200. Prague is still experiencing the highest prices, with the CZK 77,400 sqm the new average price per square meter, but it was only a a 9.3 percent jump from the end of 2017. Prices in Usti nad Labem rose 18.1 percent, while Olomouc produced the relatively sleepy inflation rate of 4.6 percent. The Czech News Agency quotes Deloitte's Petr Hana who explained Usti nad Labem's sudden leap in price. "It was caused primarily by the general pressure on prices of real estate and the low price base from which prices are rising in the city." Deloitte reports that a total of 7,357 flats were sold in new development projects for CZK 25.8bn.

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