During the COVID lockdown, prices of cottages and country houses skyrocketed, only to plummet by as much as a fifth last year. Now, they have stabilized, sparking renewed interest. Prices for small cottages generally start at around eight hundred thousand Czech koruna, while larger cottages begin at 1.2 million and country houses at around 2.5 million koruna.
However, if you want a good-conditioned cottage, you should expect to pay at least four million koruna or more. These are the prices even for luxury cottages.
“Compared to last year, there is an overall increase of about a fifth in demand for cottages and country houses,” summarized Ondřej Strada, an analyst from Bezrealitky.cz.
According to him, there is the greatest demand for recreational areas with good accessibility for residents of Prague. “A typical example is Slapy, where demand for recreational properties is a quarter higher than last autumn,” noted Strada.
Lexxus Norton, a real estate agency, has also reported increased interest in recreational properties. “Buyers are also seeking year-round habitable cottages,” said Jana Panochová from the agency.
She added that potential buyers often require comfort in the cottages and usually prefer locations within an hour and a half’s drive from a major city. Most buyers near the capital city do not need a mortgage to make their purchase.
Recreational property prices on Bezrealitky.cz, on average, fell by 15 to 20 percent compared to the COVID extremes.
“The delayed demand has shifted to the summer holidays. Before the next cottage season, prices will likely start rising again,” said Strada.
Sreality.cz currently offers nearly three thousand cottages and country houses for the Czech Republic, usually through real estate agencies. Out of these, five hundred are already marked by brokers for demolition, reconstruction, or ongoing repairs.
The rest are expected to be in good condition, but that is not always the case, and sometimes the actual state of the building is hidden behind superficial “cosmetic repairs.”
Many cottages and country houses are also directly offered by their owners on Bezrealitky.cz.
“However, the line between a recreational property and a so-called second home is becoming blurred,” Strada pointed out. Year-round habitable cottages are priced similarly to family houses in the same area.
“People often buy these second homes because owning a city property is beyond their means. They invest in a quality property outside the city, which they may either sell or move into permanently in the future,” added Strada.
The location remains crucial, with accessibility and tranquility particularly valued in recreational properties.
It is common for a cottage in a desirable location and in excellent condition to cost a million more than a country house requiring costly repairs in the middle of a village near the state border or outside a recreational area.
Due to the Land
However, for some buyers, it is not just about the cottage or country house itself. “There is also a decrease in the supply of properties designated for demolition, which people buy for their quality land,” confirmed Strada. The supply of building land is still decreasing, and compared to last year, prices have risen even though mortgage rates have also increased.
Mountain apartments and chalets are a completely different category. A studio apartment near a mountain resort starts at five million koruna. For example, a villa in Kvilda on the Šumava Mountains costs twenty-two million koruna, and chalets with very nice plots of land cost twelve to fifteen million koruna.
These recreational properties have a higher price per square meter than regular apartments in Prague due to the income generated from short-term rentals of mountain apartments.