Real estate market in the Czech Republic boomed from 1990 to 2007, but great depression hit in 2008 and the prices started to decrease. Today, it looks like the real estate market is recovering, so let’s see some changes in this field!

Prices

There was a 0.5 % growth in residential property prices in the second quarter of 2013, and since then, the whole market is recovering. For example, in the third quarter of 2014 prices increased by 2.8% for apartments and 7.2% for houses. According to some analysts, this growth will continue in 2015.

Investments

High inflation rates and low interest rates have pushed up the demand for real estate investments. Therefore, local people purchase property as an investment, but Prague is also a popular destination among foreign investors.

Employment

The wages decreased in 2014, but the employment in Prague is better than the EU average. The low unemployment rate and the wages are very significant factors if somebody wants to purchase property. 

To sum up, there were many more positive influences in 2014 and the improvement in the property market will continue in the next few years.