The rise in the price of flats in the Czech Republic is the sixth fastest in the EU

The Czechia also recorded the sixth highest increase in apartment prices in the first quarter. At that time, however, it was even more pronounced – by 9.5 percent.

The second fastest growth in housing prices in the second quarter was recorded by Poland, with a year-on-year change of 10.9 percent. It is followed by Slovakia, where houses and flats rose by 9.7 percent a year.

In neighboring Germany, prices rose 6.6 percent year on year.

In some countries, on the other hand, flats are becoming cheaper. Most in Hungary – by 5.6 percent year on year. It is followed by Cyprus with a decrease of 2.9 percent.

The quarter-on-quarter decline in apartment prices is again most pronounced in Hungary – by 7.4 percent. It is followed by Estonia, where flats are 5.8 percent cheaper than in the same period last year.

Houses and flats are also slightly cheaper than last year in Latvia (-2.3 percent), Bulgaria (-1.1 percent) and Ireland (-0.1 percent).

According to data published on Wednesday by the Czech Statistical Office (CSO), 3,198 dwellings began to be built in the Czech Republic in August, which is three percent less than a year ago. A total of 2,992 dwellings were completed, which represents a year-on-year decrease of 1.7 percent.

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