Czech Property Market Sees Lowest Home and Apartment Sales Since 2015

In 2021, the Czech Republic witnessed the lowest sales of apartments and houses since 2015. Compared to 2022, the sale of apartments decreased by nine percent, while houses saw a 17 percent drop. The market for cottages and cabins also fell by 19 percent. The most sought-after apartments were 2+1 and 2+kk, forming an average of 44 percent of all sales. The average size of an apartment sold in the Czech Republic last year was 66 square meters, almost the same as in the previous four years.

The total number of sold apartments reached 55,180, and houses 34,769. Compared to the record year of 2021, in which 73,605 apartments and 55,941 homes were sold, apartment sales fell by one-third and house sales by 60 percent. This is according to an analysis by the Valuo portal, which processes data from the Land Registry and public advertisements.

While some regions maintained stability, others faced significant drops. In Prague, the South Moravian and Pardubice regions, the market was relatively stable, with the Pardubice region recording a year-on-year increase in apartment sales of 23 percent. On the other hand, the number of sold houses fell year-on-year in all areas. The most significant drop was recorded in the capital, by 27 percent.

Traditionally, Prague has maintained a dominant position in the apartment market, with 24 percent of all apartments in the Czech Republic being sold there. However, regarding apartment sales per 1,000 inhabitants, Prague ranked only 17th. The most apartments in this calculation were sold in Milovice in the Nymburk region, Mariánské Lázně, and Karlovy Vary. In house sales, the capital has a share of 3.5 percent.