Czech apartment prices hit record high as sales continue to climb

Prices for older apartments in Czechia have climbed to a record high as demand for previously owned homes remains strong, according to a new analysis of Land Registry data.

The median sale price nationwide reached CZK 4.3 million in July, the highest level recorded so far, according to real estate agency Maxima Reality. A total of 28,571 older apartments changed hands during the first seven months of 2026, up 3 percent year on year and 20 percent compared with the same period in 2024.

For Prague buyers, prices have risen particularly sharply. Older apartments in the capital sold for an average of CZK 152,430 per square meter in July, around CZK 13,000 more than a year earlier.

That means a 50-square-meter apartment would cost roughly CZK 7.6 million at the city's average price per square meter.

While prices are climbing, sales activity has not increased equally across the country. The number of Prague transactions during the first seven months was roughly unchanged from last year, while Brno recorded an 11 percent decline.

Outside the two largest cities, however, sales increased 5 percent year on year and were almost a quarter higher than in 2024.

Brno's average price reached CZK 119,794 per square meter in July, around CZK 10,000 more than a year earlier. Across the rest of Czechia, older apartments averaged CZK 62,467 per square meter.

Maxima Reality commercial director Jakub Šolar said demand from both homebuyers and investors has remained strong over the past two years.

In Prague, however, larger apartments are increasingly reaching the limits of what buyers can afford. Studios and other small units remain popular because of their lower overall purchase price and appeal to investors seeking rental properties.

There are signs that buyers may be becoming more price-sensitive. Century 21 expects demand for investment studios to weaken as prices rise and financing becomes more difficult, with some investors instead looking toward larger properties offering a lower price per square meter.

Both analyses nevertheless point to continued strong demand in Prague. Buyers may also have more room to negotiate: Šolar said the gap between asking and final sale prices is growing, while Century 21 reported cases outside Prague where sellers have had to cut prices by CZK 200,000 to CZK 300,000.