The prices of new apartments in Brno have risen again, exceeding 143,000 CZK per square meter

Brno - The prices of new apartments in Brno continued to rise in the third quarter of this year. The average asking price reached 143,300 crowns per square meter, representing an increase of 9.1 percent since the beginning of the year. The number of sold apartments in new buildings also slightly increased year-on-year, by about 11 percent. This was reported in an analysis by the development company Trikaya, which has been tracking the market for new constructions for a long time.

"The Brno market behaves quite simply today: whatever is prepared and put up for sale sells quickly. The interest of buyers remains despite more expensive money and higher prices. As long as the pace of project preparation does not accelerate, prices will naturally tend to continue to rise," stated the executive director and chairman of the board of Trikaya, Dalibor Lamka.

The average asking price per square meter reached 143,300 crowns, while the average selling price was 132,500 crowns per square meter. The selling price includes only sold apartments in new buildings. The average price of an offered apartment was 8.69 million crowns, and the average selling price was 7.71 million crowns. This confirms that the highest interest among buyers is in more affordable and smaller apartments.

In the third quarter, which tends to be the weakest of the year due to the summer holidays, 306 new apartments were sold in Brno, with a ten-year average for the third quarter being 230 sold new constructions.

According to the analysis, smaller apartments remain the most sought after, with the largest number of sold units, 126, having the layout of 1+kk and an average area of 39 square meters. The second most popular layout was 2+kk with an average area of 56 square meters, with 102 such apartments sold in the third quarter.

At the end of September, approximately 1,500 new apartments were available in Brno across more than 40 development projects, representing a slight increase compared to the previous quarter. The offer predominantly consists of smaller apartments, especially with the layout of 2+kk, of which developers offer 588, and 1+kk with 444 apartments available.

According to the analysis, the supply still lags behind demand. "Building permits and administrative processes remain a key bottleneck in construction. Following the centralization of building authorities and the unsuccessful start of digitization, the agenda is overwhelmed, which delays even well-prepared projects and affects their pricing. Until these obstacles are resolved, we will struggle with a shortage of apartments and continued price increases," Lamka warned.