The average value of an apartment in a house in the Plzeň region last year was 3.2 million CZK

Plzeň - The average value of an apartment completed in a family house in the Plzeň Region reached 3.18 million CZK last year. The highest was in Prague, where the average was 5.57 million CZK. This is not the market value, but the cost of constructing the house. This was stated in the report on the development trends of the region by the regional office of the Czech Statistical Office.

"Economic recovery continued. Higher demand affects the pace of growth in apartment property prices, which have been rising since 2014," said the director of the regional office of the Czech Statistical Office, Miloslav Chlad.

In the Plzeň Region, 1,647 apartments were completed last year, which is 5.5 percent more year-on-year, of which about 960 were in family homes. The highest increase of a quarter was recorded in the Plzeň-jih district, with 176 apartments. A similar increase was noted in the Domažlice area, where 148 apartments were completed.

Last year, the construction of 2,356 apartments was started in the region, which is 8.6 percent more year-on-year. In the Czech Republic, the initiated construction of apartments rose by 15.8 percent last year. In the region, last year, 48.2 percent of apartments were started in family houses and 34.1 percent in apartment buildings. The highest increase in the number of initiated apartments was in the Domažlice area, by a quarter to 213 apartments, in the Klatovy district, it was 13.4 percent more with 127 apartments and in Plzeň, the construction of 1,130 apartments was initiated, which is 12.2 percent more.

The residential area per completed apartment in square meters, which partially reflects the comfort of living and also reflects the nature of demand, was 72.6 m2 for completed apartments in the Plzeň Region last year compared to 71.1 m2 in 2016. The average value in the entire Czech Republic was 72.9 m2. The lowest value in the region is in the Tachov area, at 65.9 m2 and Plzeň with an area of 68.1 m2, while the highest is in the Klatovy area (88.4 m2). For new family houses, this indicator has long been stabilized at 90 m2.