International Property News

Flats in Prague most expensive among V4 countries

10th June 2009

Flats in Prague are the most expensive among V4 countries' capitals, with the price of a new home at around EUR2,222 (Kc59,598) per square metre, leading international property consultants King Sturge said in a press release on Tuesday.

The V4 countries include Poland, the Czech Republic, Slovakia and Hungary.

While in 2008 prices of new homes in Prague added 10.5 percent on average, in Q1 this year they dropped by 5.2 percent, which experts attributed to changes in the area of bank financing, higher prices of mortgage loans in particular.

The Czech Statistical Office (CSU) said on Tuesday that new flats in single-family houses in Prague were the most expensive in the Czech Republic last year, their purchase price per square metre at Kc33,621 on average (Kc11,377 above the Czech average). The average purchase price of a new flat in tenement houses stood at Kc30,312 in Prague, the second highest after Stredocesky region in central Bohemia (Kc31,974).

Average prices of new flats in V4 capitals per square metre (in euros):

2009 2008
Prague 2222 2486
Bratislava 2139 2165
Warsaw 1870 2641
Budapest 1400 1725
Source: King Sturge


Source: Prague Monitor