Development of realised prices of flats in Prague, %yoy
11.2
% yoy
New flats - first sales (Flat Zone)
15.6
% yoy
New flats - first sales (CZSO)
Development of realised prices of flats in Prague, %yoy
(%, yoy)
CBA Commentary
Flat Zone's data for September 2025 tentatively points to an increase in the average transaction price of new Prague apartments on first sale in the third quarter of 2025 to 168.8 thousand CZK. This is 2.7% higher compared to the previous quarter. Their year-on-year growth then slowed to 11% after the previous year's 13.2% growth. In 2024, the transaction prices of these new Prague apartments at first sale fell by 0.1% yoy. Compared to the beginning of this time series of Flat Zone, i.e. compared to the first quarter of 2023, the first-sale prices of these Prague apartments increased by 7.9%, i.e. by approximately 12 thousand EUR. CZK. Methodologically different CSO data show an increase of 16.2% in the prices of new Prague flats at first sale compared to Q1 2023 (Flat Zone data showed an increase of 5.1% during this period). Their dynamics thus surpassed the average quarterly growth of 2.3% recorded since the end of 2019. This resulted in a 15.6% year-on-year increase in the realised price of new flats in Prague in Q2 2025, while realised prices of older flats grew by 13.6%. These multiples of realised prices of older flats in Prague reached 1.7 and 2.7 respectively.
Source of primary data
CZSO, Flat Zone
Note
Realized prices. New apartments - these are the first sales. In the case of Flat Zone's data, these are transaction prices for first sales of new flats in the (developer-client) relationship at the time of sale. In the case of CSO data, it is a weighted average of partial results for Prague. The methodology of the data is therefore different, which causes differences in the dynamics and level of the time series, especially in the short term.
Comment by Jaromír Šindel, Chief Economist of the CBA: The recovery in disposable income in Q2 was still dampened by fiscal policy, so it remained weaker compared to the increase in wages and property prices. Nevertheless, households managed to increase both consumption and their savings.
Economic commentary by Jaromír Šindel, Chief Economist of the CBA: I estimate overall growth in realised house prices of 4.2% quarter-on-quarter, which has outpaced wage growth for the sixth quarter in a row.