Prague’s Premium Secondary Market for 4+kk Apartments Is Changing the Rules: Buyers Are Paying More for Less Space
The data show that in 2022 and 2023, the typical premium 4+kk apartment sold measured around 220–230 sqm. In recent years, however, the median floor area of apartments sold by LEXXUS NORTON has fallen to 155–170 sqm. At the same time, the price per square metre has risen from approximately CZK 155,000–175,000 to more than CZK 220,000.
On Prague’s premium secondary market, buyers are therefore getting less space while paying significantly more per square metre. Large family apartments increasingly demonstrate that their greatest value today lies not in floor area alone, but in the combination of location, layout, architecture and quality of finish.
“Today, a premium family apartment no longer automatically means a large floor area. Above all, it means a well-designed space that can offer comfort for the whole family. And such apartments are in short supply on the Prague market,” says Anna Gruberová, CEO of LEXXUS NORTON.
Luxury Floor Areas Are Becoming a Scarce Commodity
The data reveal an interesting shift. Just a few years ago, apartments exceeding 200 sqm were regularly sold in the premium 4+kk segment. Today, the focus of completed transactions in the premium segment has shifted considerably towards smaller properties. The median floor area of 4+kk and 4+1 apartments sold on the secondary market in premium locations currently stands at approximately 155–170 sqm. At the same time, the price per square metre for these properties has climbed above CZK 220,000. Buyers are therefore purchasing smaller apartments, but each square metre now costs considerably more.
“It’s not that people in Prague have stopped wanting spacious homes. Quite the opposite. Families continue to look for 4+kk apartments, but they are coming to terms with the need to choose very carefully how much space they actually need. When a practically designed family apartment in a premium location comes onto the market, demand is strong,” adds Anna Gruberová.
4+kk Is Winning Out Over 4+1
The changing market is also reflected in the structure of transactions. Of all the transactions involving large premium apartments tracked by LEXXUS NORTON, 81% were for 4+kk apartments, compared with just 19% for 4+1 apartments. The modern 4+kk layout is increasingly replacing the traditional 4+1 as the preferred configuration for family living.
“The 4+kk layout is very well suited to how families want to live today. It offers a spacious living area connected to the kitchen, sufficient privacy in the bedroom area and often a terrace, balcony or direct access to greenery. This combination is particularly sought after in the premium housing segment today,” says Anna Gruberová.
Location Still Matters — and the Differences Are Surprisingly Large
Not all Prague neighbourhoods are following the same trajectory. Among the transactions analysed, Prague 5 – Smíchov emerged as the strongest segment by volume, with LEXXUS NORTON completing the highest number of 4+kk sales there during the period under review. The median price stands at around CZK 228,000 per sqm.
Some traditionally premium neighbourhoods command even higher prices. Bubeneč averages CZK 280,000 per sqm, Střešovice reaches approximately CZK 272,000 per sqm in the analysed sample, Karlín stands at around CZK 266,000 per sqm, and Vinohrady at approximately CZK 252,000 per sqm.
“With large apartments, the differences between individual locations are enormous. Buyers today make very precise distinctions based on the address, the quality of the building, architecture, views, greenery and access to amenities. That is why two apartments of a similar size can differ in price per square metre by tens of thousands of crowns,” says Anna Gruberová.
Less Space, More Value
According to LEXXUS NORTON, developments in the premium secondary market for 4+kk apartments reflect a broader shift in Prague’s residential property market. Large family apartments are becoming increasingly scarce at a time when demand from affluent buyers remains strong.
Limited supply of high-quality, large apartments in premium locations is putting upward pressure on prices and increasing the importance of every square metre. The same shortage affects new developments, where the average asking price for 4+kk family apartments currently stands at CZK 175,866 per sqm.
In recent years, developers have significantly reduced the construction of larger family apartments. Supply is shifting towards smaller layouts, which sell more quickly and better match investment demand. The result is a shortage of new-build apartments with 4+kk layouts or larger, pushing prices upwards.
“In my view, large family apartments are entering an interesting paradox. The fewer there are on the market, the less decisive the overall floor area becomes, and the more important the quality of the space. A 150-sqm apartment can offer greater value to a family than a 200-sqm one if it is better designed, has a more practical layout and is in the right location,” concludes Anna Gruberová.
