Czech demand for Italian apartments rises as interest in Spain declines

Czechs are showing growing interest in the Italian property market, while demand for housing in Spain has fallen, according to a new analysis by the real estate portal Sreality.cz.

In the second quarter, searches by Czech users for apartments to rent or buy in Italy rose by 21 percent year-on-year. By contrast, interest in Spanish properties dropped 26 percent over the same period. A year ago, Spain was the top destination for Czech buyers abroad, but it has now been overtaken by Italy.

The shift comes amid sharp price growth in Spain. Flats between 40 and 100 square metres there recorded a 35 percent year-on-year increase in asking prices, reaching about CZK 85,000 per square metre. Analysts suggest that the decline in demand may also be influenced by new regulations restricting short-term rentals in favour of long-term leases, which could discourage Czech investors.

In Italy, apartment prices also rose, though at a slower pace—up 14 percent to CZK 51,679 per square metre. Meanwhile, prices for family houses, villas, and multi-generational homes ranging from 50 to 300 square metres fell by six percent to CZK 41,800 per square metre, making larger residential properties more accessible.

“Although interest in flats in Spain has significantly decreased year-on-year, this country still remains among the most sought-after foreign locations on Sreality.cz,” noted Štěpán Matějka, data analyst at Seznam.cz.

Other markets showed mixed trends. Demand for Bulgarian flats declined by ten percent, Austrian properties by four percent, and Albanian ones by two percent. Croatia, however, saw a three percent increase in searches, underlining its popularity as a summer destination.

Despite price hikes abroad, housing in Spain and Italy remains generally cheaper than in the Czech Republic. According to data from Bezrealitky.cz, the average price for older Czech flats in good condition was CZK 108,486 per square metre in the second quarter, while family houses averaged CZK 62,904 per square metre.

Rental trends differ, however. Italy’s rents reached their highest level in 13 years, with a 5.5 percent increase to €14.9 (CZK 366) per square metre, according to the portal Idealista. In comparison, Czech rents averaged CZK 351 per square metre in the same period.

Source: CTK