HOW ARE APARTMENT PRICES CHANGING IN PRAGUE? A COMPLETE OVERVIEW BY DISTRICT AND CURRENT TRENDS

Are you tracking apartment price trends in Prague and considering buying, selling, or making a strategic investment in residential real estate?

The Prague real estate market remains the key hub of investment activity in the Czech Republic, and data from late 2024 confirms its continued growth. Whether you are deciding on buying a home, selling an apartment at the highest possible market price, or considering acquiring a complete portfolio, you need accurate figures rather than mere estimates or impressions.

According to official Deloitte Real Index data published in February 2025, the average realised property price in Prague in the fourth quarter of 2024 reached CZK 139,900 per square metre. This represents a quarter-on-quarter increase of 1.5% compared to the third quarter of 2024. These statistics are based directly on transaction prices recorded in the Land Registry and demonstrate how distinctly the market develops across individual districts and property types.

WHO THIS ANALYSIS IS FOR

This overview is intended primarily for:

• Apartment owners in Prague considering capitalising on value appreciation or selling under optimal terms
• Buyers seeking high-quality housing in prestigious as well as dynamically developing locations
• Private and international investors planning to acquire individual flats, apartment buildings, or entire residential developments
• Institutional investors and funds focusing on rental housing projects and looking for comprehensive market context.

PRAGUE PRICE MAP BY DISTRICT

An analysis of the Deloitte Real Index data for the fourth quarter of 2024 shows that the pace of price movements varies considerably across different parts of the city:

01PRAGUE 1

• Average price: CZK 194,400/m²
• Quarter-on-quarter change: decrease of 4.2%

02PRAGUE 2

• Average price: CZK 177,000/m²
• Quarter-on-quarter change: significant increase of 11.6%

03PRAGUE 3

• Average price: CZK 155,500/m²
• Quarter-on-quarter change: increase of 6.2%

04PRAGUE 4

• Average price: CZK 129,500/m²
• Quarter-on-quarter change: increase of 5%

05PRAGUE 5

• Average price: CZK 148,300/m²
• Quarter-on-quarter change: increase of 5.5%

06PRAGUE 6

• Average price: CZK 144,300/m²
• Quarter-on-quarter change: sharp decrease of 9.6%

07PRAGUE 7

• Average price: CZK 164,500/m²
• Quarter-on-quarter change: increase of 7.2%

08PRAGUE 8

• Average price: CZK 134,400/m²
• Quarter-on-quarter change: increase of 7.6%

09PRAGUE 9

• Average price: CZK 122,200/m²
• Quarter-on-quarter change: decrease of 4.3%

10PRAGUE 10

• Average price: CZK 127,800/m²
• Quarter-on-quarter change: increase of 2.6%

PROPERTY PRICES AND TRANSACTION VOLUMES BY BUILDING TYPE

A broader picture of the market is provided by looking at structural property types. In the fourth quarter of 2024, the Land Registry recorded the following volumes and average prices:

• New development projects: average price CZK 144,700/m², total transaction volume CZK 14.1 billion, total number of sales 1,545, of which 1,144 were primary market transactions.
• Brick-built buildings: average price CZK 147,300/m², transaction volume CZK 4.5 billion, total number of sales 540.
• Prefabricated concrete buildings (paneláky): average price CZK 112,200/m², transaction volume CZK 2.2 billion, total number of sales 365.

Looking more closely at new builds, the average price for primary sales in development projects stood at CZK 155,086/m², while resales reached CZK 144,886/m². Units sold directly from developers' price lists recorded an average price of CZK 156,800/m².

MOST SOUGHT-AFTER LOCATIONS, PRESTIGIOUS ADDRESSES, AND THEIR SPECIFICS

Popular Prague districts have long attracted the attention of domestic and international buyers alike. They offer a proven combination of prestige, excellent amenities, and a high standard of living.

01PRAGUE 1: OLD TOWN AND MALÁ STRANA

The historic centre represents the pinnacle of the Prague property market. These neighbourhoods are sought after mainly by international investors seeking to own real estate in listed heritage buildings with views of Charles Bridge, Prague Castle, or Old Town Square.

The average price here consistently remains above CZK 190,000/m² and frequently exceeds CZK 200,000/m². On exclusive Pařížská Street, renowned for luxury boutiques, prices often surpass CZK 300,000/m². Substantial interest also surrounds addresses on Lázeňská Street or Kampa Island along the banks of the Vltava River.

02PRAGUE 2: VINOHRADY

Vinohrady is a prime choice for expatriates, discerning families, and investors. The location stands out for its stately apartment buildings, parks, cafes, and rapid access to the city centre within 5 to 10 minutes by metro.

High demand is concentrated around Vinohradská Avenue, Náměstí Míru, and Riegrovy Sady. The average price reaches CZK 177,000/m². In recent years, purchases by buyers from the United Kingdom and Germany have grown significantly, viewing Vinohrady as a secure store of capital.

03PRAGUE 8: KARLÍN

Following the 2002 floods, Karlín underwent a fundamental transformation, evolving into a modern hub popular with young professionals and businesses. Historic architecture blends seamlessly here with contemporary development.

A key investment focus is Rohanské Nábřeží, featuring new commercial and residential developments such as the major River City Prague project. Karlín remains one of the primary growth drivers in Prague real estate, drawing a steady inflow of international capital.

04PRAGUE 5: SMÍCHOV

Smíchov is undergoing an extensive transformation led by the Smíchov City project, where a new multifunctional urban quarter is taking shape. Infrastructure development around the Anděl and Na Knížecí transit hubs creates an appealing environment for living and long-term letting. Streets such as Holečkova and Nádražní, home to new premium residential developments, enjoy strong popularity.

INTERNATIONAL COMPARISON AND INSTITUTIONAL TRENDS

According to available statistics, foreign buyers account for approximately 15% to 20% of all completed purchases in premium Prague locations. Investors view the Czech capital as a safe haven for their capital, targeting prime addresses as well as high-profile developments such as Waltrovka or Rezidence Churchill.

When compared with leading Western European capitals, Prague remains competitively priced. While the Prague average reached CZK 139,900/m², prices in prestigious London neighbourhoods exceed CZK 300,000/m², and sought-after Parisian districts average around CZK 220,000/m².

At the same time, the influence of institutional rental housing, or Build to Rent (BTR), is expanding. Funds, real estate trusts, and developers are increasingly building or acquiring entire residential schemes dedicated exclusively to rental. Rising prices of owner-occupied housing reduce affordability for parts of the population, thereby elevating demand for stable, professionally managed rental housing. For investors, this model provides secure and predictable returns.

PRACTICAL CRITERIA WHEN SELECTING OR SELLING AN APARTMENT IN PRAGUE

When deciding on a transaction in Prague, focusing on several crucial criteria is essential:

• Micro-location and accessibility: Walking distance to a metro or tram stop is absolutely vital for long-term property value and rental appeal.
• Building type: Brick apartments in premium districts maintain the highest average prices (CZK 147,300/m²), prefabricated panel buildings offer lower entry costs (CZK 112,200/m²), while quality new developments appeal to creditworthy tenants.
• Condition of common areas and the building: In period buildings, always evaluate the state of the roof, utilities, façade, and the financial health of the homeowners' association (SVJ).
• Sales format: For prime real estate and larger portfolios, an off-market sale frequently produces the best results while protecting the owner's privacy.

"The Prague real estate market is not a uniform whole. The differences between individual districts, streets, and building types are substantial. A well-crafted strategy for buying or selling off-market determines whether you achieve an average result or truly maximise your outcome."

Maria Kopřivová

ARE YOU CONSIDERING BUYING OR SELLING PROPERTY IN PRAGUE?

Whether you are looking for a new family home, planning to sell your existing apartment, or seeking a sound investment opportunity, I am ready to share my expertise and network.

• Looking for a home to live in: Working directly with property owners and developers, I will help you choose a residence that meets your exacting standards for location, layout, and quality.
• Planning to sell an apartment or residential building: We will define a bespoke sales strategy to target vetted, qualified buyers discreetly, without unnecessary publicity, and secure the highest possible price.
• Operating as an investor: I will source suitable individual units, entire apartment buildings, and rental development projects through off-market channels directly from owners and investment groups.

Reach out to me using the form right below this article. I will be pleased to connect with you and discuss your plans in a non-binding consultation.