Developers sold 1,848 new apartments in Prague during the second quarter of 2025, marking a 13% decline compared to the previous quarter. Despite the decrease, this remains the second-highest sales figure since the third quarter of 2021, according to an analysis by the BuiltMind platform, which monitors more than 380 residential projects in the capital. The average price per square meter for new apartments rose to CZK 168,029, representing a 2.7% increase quarter-on-quarter and a 9% rise year-on-year. The number of units available on the market increased by 9% compared to the first quarter, reaching approximately 6,400 apartments. Several large residential projects were introduced during this period, contributing to the expanded offer. According to BuiltMind director Martin Dececký, these developments included conversions of former brownfield sites as well as new constructions in the outskirts of the city. Renovations of older buildings in central Prague also contributed to the supply. Smaller apartments, particularly 1+kk units, were the most expensive on a per-square-meter basis, averaging around CZK 180,000. Larger units, such as 2+kk to 4+kk apartments, were priced between CZK 161,400 and CZK 169,000 per square meter. Dececký noted that compact apartments continue to attract investor interest due to their relatively lower cost and rental potential. In terms of developers, Central Group led the market with 284 publicly recorded sales, followed by Finep with 212 units, Skanska Residential with 110, CPI Property Group with 103, and Penta Real Estate with 95 apartments. Looking ahead, analysts expect demand for new apartments to remain strong, especially in the context of falling interest rates. The Czech National Bank recently reduced its key rate to 3.5%. BuiltMind anticipates that further rate cuts—particularly if rates fall below 3%—could trigger a notable uptick in residential sales, potentially exceeding 2,000 units per quarter. According to the Czech Banking Association’s latest Hypomonitor data, banks and building societies issued CZK 37.5 billion in mortgage loans in June, a 9% increase from May. New mortgages excluding refinancing rose 7% to CZK 29.4 billion. Average interest rates on new loans declined slightly to 4.56%. Source: CTK