In the Czech Republic, the planned development of cities with new residential buildings continues. The welfare of the inhabitants is growing. Many Czechs can afford to improve their living conditions. The average salary of an employee in the country is around 1,300 euros. With low prices for food, clothing and basic necessities, it is possible to save money on large purchases.
Due to the general economic growth, the sale of apartments in the Czech Republic for locals and foreigners is increasing every year. The cost of housing is growing in proportion to the increase in demand for apartments. There is a real real estate boom in Prague. The economic, political and social situation in the Czech capital is such that there are more and more people willing to buy an apartment, and the new housing market cannot meet the demand.
In other cities and regions, residential property prices have not yet risen to the point where buying an apartment becomes impossible due to lack of money. In the regions, the increase in the cost of buying a home is happening everywhere, but at different rates. The average growth in the country amounted to more than 6% in 2019. The average sale of apartments in the Czech Republic in just one quarter exceeds 7 thousand objects. Prices depend on the ratio of supply and demand. The following prices per square meter were developed by regions:
- in Prague - 77,400 crowns;
- in Brno - 56,600 crowns;
- in Hradec Králové - 45,300 kroons;
- in Karlovy Vary - 26,600 crowns;
- in Ostrava - 23,600 crowns.
The minimum price increase in the provincial regions is 4.6% per year, and the maximum price increased by 13.9%. The champion of the growth of the value of residential real estate was the city of Hradec Králové. The average quarterly growth rate is 1.2% compared to the previous short period. In Prague, the leaders in the growth of housing costs are traditionally areas with historical architecture - Prague1 and 2. In the suburban developing area of Prague 10 housing still remains the cheapest in the city - 71 thousand crowns per square meter, which is twice lower than the prices of central city streets.