Czech property prices hit new highs as apartment price growth slows

Czech property prices reached new highs in the third quarter of 2026, although apartment prices rose at their slowest quarterly pace in more than two years, according to the latest ČSOB Housing Index.

Apartment prices increased 1.3 percent from the previous quarter and 9.3 percent year on year. Family houses gained 2 percent quarterly and 8.4 percent annually, while land recorded the strongest increases, at 2.6 percent and 10.5 percent respectively.

The figures show a cooling in apartment price growth rather than a decline in prices. Houses and land, meanwhile, became more expensive at a slightly faster quarterly pace than in the preceding three months.

Higher market mortgage rates and tighter Czech National Bank conditions for mortgages on investment apartments are influencing the market, according to ČSOB.

Martin Vašek, chief executive of ČSOB Hypoteční banka and ČSOB Stavební spořitelna, expects apartment price growth to continue slowing through the remainder of the year.

The quarterly increase has progressively eased from 2.7 percent in the final quarter of 2025 to 2.6 percent in early 2026, 2.4 percent in the second quarter and 1.3 percent in the third.

Regional results varied considerably. Apartment prices were unchanged from the previous quarter in Central Bohemia and the Liberec Region, while the Zlín Region recorded a 5.6 percent increase and the Pardubice Region a 3.6 percent rise.

Prague’s quarterly growth slowed to 0.7 percent.

Demand remained strongest for smaller apartments in large cities, particularly studios and one-bedroom layouts designated 1+kk and 1+1. Among investment buyers, the most sought-after layouts were 2+kk and 2+1.

Family-house prices rose 2 percent in the third quarter, slightly faster than the previous quarter’s 1.9 percent increase. Both supply and sales volumes increased modestly, according to the index.

“House buyers are cautious and carefully consider the balance between price, location and the building’s energy requirements,” Vašek said.

Land prices increased fastest among the three categories as supply tightened. The number of plots on offer fell 5 percent from the second quarter, maintaining upward pressure on prices.

Buyers showed the greatest interest in plots of up to 650 square meters around major cities.

Demand also continued for building land farther from large urban centers where transport connections were good, Vašek said.

With prices still rising across all three categories, the slowdown in apartments has yet to translate into broad price relief for buyers.