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December 11, 2017 10:00 am | FILED UNDER: business

Home Prices Up 14% in 2017

By ČTK

Prague, Dec 10 (CTK) – Prices of family houses have increased nearly twice faster than prices of flats in the Czech Republic in January to October, by an average 13.5 and 7.2 percent, respectively, according to data from CeMap portal.

 

The portal compared market prices of more than 635,000 pieces of property advertised on real estate servers.

 

In spite of the price growth, flats are still twice more expensive (per square metre) than family houses, the biggest difference registered in the Olomouc Region (prices more than three times higher), while the smallest difference is seen for the Usti Region (a mere 1.5 pct).

 

Prices of family houses (per square metre) in Prague are more than five times higher than in the Vysocina Region, which registers the lowest prices. In terms of flats, the capital city is nearly 6.5 times more expensive compared to the Usti Region, where the price is the lowest.

 

“Property prices are at their highest at the moment and are unlikely to continue growing at a fast rate,” said Reality IQ director Ondrej Masin.

 

Demand for smaller flats in big towns will prevail, he added.

 

Average prices of houses and flats in CR at end-Oct (Kc/m2):

 

region

prices of houses

change since start of year (pct)

prices of flats

change since start of year (pct)

Prague

58,071

13.9

77,937

7.0

Central Bohemia

27,276

5.3

40,520

9.1

South Bohemia

15,593

14.1

29,872

2.9

Plzen

15,290

22.8

35,297

11.1

Karlovy Vary

17,269

-1.5

30,169

-5.4

Usti

12,240

18.9

12,388

9.1

Liberec

13,495

15.5

27,130

8.2

Hradec Kralove

14,470

10.9

34,659

-3.8

Pardubice

13,989

5.1

31,301

9.9

Vysocina

11,247

19.3

26,908

4.7

South Moravia

19,212

23.8

49,068

6.6

Olomouc

11,438

18.1

37,726

23.0

Moravia Silesia

16,515

13.8

21,830

10.1

Zlin

12,315

9.0

30,972

8.7

CR

18,458

13.5

34,698

7.2

 

Source: cemap.cz

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