The average price of older apartments in the Czech Republic rose by 14% in the first quarter of this year compared to the same period in 2024, reaching CZK 72,575 per square metre. On a quarterly basis, prices were up by 6%. While the most significant price increases in absolute terms occurred in Prague and Brno, the highest percentage growth was seen in Ústí nad Labem and Ostrava, where prices rose by around 25% year-on-year. According to an analysis by real estate platform FérMaklér.cz, price increases across the cities surveyed ranged from 13% in Olomouc to 25% in Ústí nad Labem. In Prague, older apartments saw a 13% rise, while Brno recorded a 16% increase. In terms of price per square metre, Prague saw an increase of CZK 16,600, and Ústí nad Labem recorded a rise of CZK 8,500. In the capital, the average price for an older apartment in good condition reached CZK 142,000 per square metre. For an 80-square-metre apartment, this represents an annual increase of approximately CZK 1.32 million, with the total price averaging CZK 11.4 million. In Brno, the cost for a similar unit is about CZK 8.97 million, or CZK 112,000 per square metre. In Ostrava, the average price per square metre was over CZK 58,000, while in Ústí nad Labem it reached nearly CZK 42,000. Previous data had suggested a potential slowdown in price growth, but recent developments do not indicate a shift towards lower prices. “In cities such as Ostrava and Ústí nad Labem, quarterly price growth has even outpaced year-on-year increases. There are currently no signs that the market for older apartments will see price reductions. The supply of new housing remains limited, and mortgage rates are more favourable compared to previous years. Buyers looking to secure property are not delaying their decisions,” said Lumír Kunz, Managing Director at FérMaklér.cz. Source: CTK