Older apartments are 84% cheaper in the Ústí Region than in Prague

"The increase in prices for new buildings is faster than for older apartments. One of the reasons for this trend is that there are more than a third fewer new apartments on the market than older ones. However, there is a shortage of both older and new apartments in Prague, which also reflects in their prices," stated Marcel Soural, chairman of the board of Trigema. Compared to the South Moravian Region, which ranks second in the prices of older apartments, prices for older apartments in Prague are higher by more than three-fifths.

The average price of an older apartment in Prague is about 160 percent higher than the average for regions outside Prague. This was also the case at the end of last year. Following are the South Moravian (51,344 crowns per square meter), Central Bohemian (41,594 crowns) and Plzeň Region (36,241 crowns). In contrast, after the Ústí Region, older apartments are cheapest in the Moravian-Silesian Region (19,827 crowns) and Karlovy Vary Region (28,965 crowns).

Compared to the end of last year, older apartments in the Liberec Region increased the most in price, by 4.1 percent. This was followed by Hradec Králové Region (by three percent), Prague (by 2.9 percent) and Central Bohemian Region (by 2.5 percent). The greatest price drop occurred in the Pardubice Region, by 5.3 percent, followed by Zlín Region (by 4.2 percent) and Plzeň Region (by 3.8 percent).

Within the capital city, the most expensive is Prague 1, with an average price of 149,341 crowns per square meter. In the cheapest Prague 4, the prices of older apartments are about half lower.