The LEXXUS NORTON Market Report provides a data-driven insight into the development of the new-build and premium residential property markets in Prague and its surrounding areas. It draws on a unique database of thousands of properties offered for sale and completed transactions, the company’s own sales data, and long-standing cooperation with leading property developers. This enables the report to capture current trends that often take several months to appear in public statistics. It also covers the premium secondary market, rental housing, and the long-term market outlook.
“High-quality market data is essential not only for developers making decisions about the planning of new projects, their unit mix, and pricing strategies, but also for investors who need to accurately assess a property’s potential and long-term return on investment. Our consulting department brings together in-depth market knowledge with an analysis of specific locations, demand, and competing supply. This allows us to offer clients not just an up-to-date picture of the market, but, above all, the insights they need to make informed strategic decisions,” says Anna Gruberová, CEO of LEXXUS NORTON.
The most significant price shift is evident in larger apartment layouts. While newly built studio apartments (1-room layouts) average CZK 209,000 per square metre, apartments with five or more rooms average approximately CZK 188,000 per square metre. The difference is just 10.4%. As a result, the availability of high-quality family housing in sought-after locations is becoming one of the key issues facing Prague’s residential property market.
Buyers Are Taking a More Cautious Approach, While Premium Property Prices Remain Stable
Despite higher interest rates, Prague’s residential property market remains stable, although a slight slowdown in demand has been evident since spring. Buyers are making more cautious decisions, taking longer to compare available properties, and paying closer attention to the balance between price, location, and property quality.
Limited Supply Will Continue to Support Price Stability
The market is expected to remain broadly stable in the coming months. More cautious buyer behaviour may extend selling periods and the time required to complete transactions. However, LEXXUS NORTON analysts do not expect prices of premium properties in Prague’s sought-after locations to decline. The limited supply of high-quality properties, particularly in the city’s most desirable areas, will continue to support price stability in this segment. A gradual slowdown in price growth is therefore considered more likely than a significant market correction.
