Authored by the expert who managed and guided the team behind the Czech Property Pack
Yes, the analysis of Prague's property market is included in our pack
Prague's apartment market has reached record highs in 2025, with the average price per square meter now sitting at CZK 131,382 for all property types and CZK 164,000-168,000 for new builds. The Czech capital has become one of the most expensive cities in Central Europe for real estate, with prices rising 7-10% annually and showing no signs of slowing down.
Property buyers today face a challenging market where new apartments command a 24-30% premium over older properties, and central districts like Prague 1 and Prague 2 regularly exceed CZK 200,000 per square meter. Understanding these price dynamics is crucial whether you're looking to buy your first home in Prague or considering an investment property in this dynamic market.
If you want to go deeper, you can check our pack of documents related to the real estate market in the Czech Republic, based on reliable facts and data, not opinions or rumors.
Prague apartment prices have surged to historic highs in 2025, with new builds averaging CZK 164,000-168,000 per square meter and older properties around CZK 113,000-124,000 per square meter. Central districts command premium prices above CZK 200,000 per square meter, while outer areas offer more affordable options starting from CZK 116,150 per square meter.
The market shows strong momentum with 7-10% annual price growth, driven by supply shortages and sustained demand. Investment opportunities exist in up-and-coming neighborhoods like Žižkov and Nusle, where prices remain relatively affordable but show strong appreciation potential.
| Property Type | Price per m² (CZK) | Best Areas |
|---|---|---|
| New Build Apartments | 164,000 - 168,000 | Prague 1, 2, 7 |
| Older Apartments | 113,000 - 124,000 | All districts |
| Budget Options | 100,000 - 116,150 | Prague 4, 8, 9, 10 |
| Premium Central | 200,000+ | Prague 1, 2 |
| Up-and-coming Areas | 118,000 - 130,000 | Žižkov, Nusle, Vysočany |
| Panelák Buildings | 100,000 - 110,000 | Outer districts |
| Investment Properties | 120,000 - 150,000 | Transport hubs |
How much does an average apartment cost per square meter in Prague today?
As of June 2025, the median apartment price in Prague stands at CZK 131,382 per square meter across all property types.
New-build apartments command significantly higher prices, with asking prices averaging CZK 164,000-168,000 per square meter in early 2025. However, actual transaction prices for these new properties typically settle between CZK 156,851-159,778 per square meter, reflecting some negotiation in the market.
Older apartments offer more affordable entry points, typically priced between CZK 113,000-124,000 per square meter. The most budget-friendly options can be found in panelák buildings (prefabricated blocks) in outer districts, where prices can drop as low as CZK 100,000 per square meter.
The overall average combining both new and older properties reached CZK 139,900 per square meter at the end of 2024, representing a significant milestone in Prague's real estate evolution.
It's something we develop in our Czech property pack.
How does the average price per square meter differ between new builds, older apartments, and renovated properties?
The price gap between property types has widened considerably, with new builds now commanding a 24-30% premium over older apartments.
New-build apartments represent the premium segment of Prague's market, with asking prices of CZK 164,000-168,000 per square meter and actual sales typically completing between CZK 156,851-159,778 per square meter. These properties offer modern amenities, energy efficiency, and contemporary design standards that buyers increasingly demand.
Older apartments provide more accessible pricing at CZK 113,000-124,000 per square meter on average, though prices vary significantly based on location and condition. Properties in desirable older buildings, particularly those with historical character in central areas, can command prices closer to new-build levels.
Renovated properties occupy the middle ground, with pricing heavily dependent on renovation quality and location. Well-renovated apartments in trendy neighborhoods can approach new-build prices, especially if they retain original architectural features while incorporating modern conveniences.
The premium for new construction continues to grow as supply constraints limit new development and buyers prioritize move-in-ready properties.
Which neighborhoods in Prague are the most expensive, the most budget-friendly, and the most up-and-coming?
| Category | Districts | Price Range (CZK/m²) |
|---|---|---|
| Most Expensive | Prague 1 (Old Town), Prague 2 (Vinohrady) | 200,000+ |
| Premium Central | Prague 7 (Holešovice) | 180,000 - 220,000 |
| Budget-Friendly | Prague 4 (Nusle, Krč), Prague 8 (Bohnice) | 118,000 - 122,000 |
| Most Affordable | Prague 9, 10, Southwestern edge | 116,150 - 120,000 |
| Up-and-Coming | Žižkov (Prague 3) | 125,000 - 140,000 |
| Rising Stars | Nusle (Prague 4), Vysočany (Prague 9) | 118,000 - 135,000 |
| Value Areas | Karlín (Prague 8), Černý Most | 115,000 - 130,000 |
What are some example purchase prices for typical apartments in central Prague versus outer districts?
Central Prague apartments command premium prices that reflect their prestigious locations and proximity to major attractions.
In Prague 1, Prague 2, and Prague 7, a typical 70 square meter apartment costs between CZK 14-16 million, translating to over CZK 200,000 per square meter. Studio and one-bedroom apartments in these central areas start from CZK 6-8 million, making them accessible primarily to high earners or investors.
Outer districts offer significantly more affordable options for families and first-time buyers. The same 70 square meter apartment in Prague 4, 8, 9, or 10 typically costs CZK 8-9 million, representing prices of CZK 118,000-130,000 per square meter.
Budget-conscious buyers can find studio and one-bedroom apartments in outer areas starting from CZK 3-4 million, particularly in well-connected districts with good transport links to the city center.
These price differences reflect not just location premiums but also variations in building quality, amenities, and neighborhood infrastructure.
How have apartment prices in Prague changed compared to 1 year ago and 5 years ago?
Prague's apartment market has experienced remarkable growth, with prices rising 7-10% annually in the past year alone.
Compared to mid-2024, average new-build prices have increased from CZK 152,000-156,000 per square meter to current levels of CZK 164,000-168,000 per square meter. This represents a substantial year-over-year increase that has outpaced inflation and wage growth significantly.
Looking back five years to 2020, the transformation is even more dramatic. Average prices across all property types ranged from CZK 100,000-110,000 per square meter, meaning current prices represent a 20-50% increase depending on property type and location.
The ten-year perspective reveals the full scope of Prague's real estate boom. In 2015, average prices stood at just CZK 60,000-70,000 per square meter. A typical 70 square meter apartment that cost CZK 4 million in 2015 now commands CZK 10-12 million, representing a more than doubling of values.
This sustained price growth reflects Prague's economic development, EU membership benefits, and increasing international recognition as a desirable place to live and invest.
Don't lose money on your property in Prague
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
What is the forecast for Prague apartment prices over the next 1 year, 5 years, and 10 years?
Market analysts expect Prague apartment prices to continue their upward trajectory, though growth rates may moderate from current levels.
Over the next year, prices are forecast to increase by 5-10% due to persistent supply-demand imbalances and ongoing market momentum. New construction remains limited while demand from both domestic buyers and international investors continues to grow.
The five-year outlook suggests continued moderate growth of 4-7% annually, barring major economic disruptions. This sustained growth is supported by Prague's strong economic fundamentals, continued EU integration benefits, and the city's growing reputation as a tech and business hub.
Long-term projections for the next decade indicate likely sustained growth, though the pace may slow as prices reach higher absolute levels. Historical trends suggest 4-5% annual growth is sustainable over decades, driven by population growth, economic development, and limited land availability in desirable areas.
These forecasts assume continued political stability, economic growth, and Prague's maintained attractiveness to international residents and investors.
How does the cost per square meter in Prague compare to similar cities like Budapest, Warsaw, or Vienna?
Prague has positioned itself as a mid-tier option among Central European capitals, more expensive than regional neighbors but still below Western European levels.
Converting to euros for comparison, Prague apartments average 5,400-6,800 EUR per square meter, with new builds at the higher end of this range. This pricing places Prague significantly above other regional capitals while remaining below Western European standards.
Budapest offers much more affordable options at 3,000-4,000 EUR per square meter, making it nearly 50% cheaper than Prague. Warsaw sits in between at 3,800-4,200 EUR per square meter, though it's rapidly catching up to Prague's levels.
Vienna represents the premium end of the regional market at 7,000-8,000 EUR per square meter, reflecting its status as a major Western European capital. However, Vienna's higher salaries make it relatively more affordable for local residents than Prague is for Czech residents.
Prague's positioning reflects its economic development and international appeal, but also highlights affordability challenges relative to local income levels.
What is the total cost of buying an apartment in Prague including taxes, legal fees, and agency fees?
Prague offers one of Europe's most favorable tax environments for property purchases, with no property transfer tax since 2020.
Legal fees typically amount to 1% of the purchase price plus VAT, while notary fees add another 0.2% of the purchase price. These professional services are essential for ensuring proper property transfer and legal compliance.
Agency fees range from 2.5-5% of the purchase price, though these are often included in listed prices rather than charged separately to buyers. Additional costs include land registry fees, property valuation, and insurance, typically totaling CZK 5,000-20,000.
Overall, buyers should budget 3.7-6.2% of the purchase price for additional costs beyond the property price itself. For a CZK 10 million apartment, this translates to CZK 370,000-620,000 in additional expenses.
This relatively low cost structure compared to many European markets makes Prague attractive for property transactions.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in the Czech Republic versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
What kind of mortgage terms are typically available for buying apartments in Prague, and what are monthly repayment estimates?
Czech banks offer competitive mortgage terms, though requirements vary significantly between residents and non-residents.
Typical loan-to-value ratios range from 80-90% for Czech residents, while non-residents can access 60-85% financing depending on their financial profile and the specific bank. Interest rates currently range from 4-6% for fixed-rate mortgages, with shorter fixation periods often offering lower rates.
Standard repayment periods extend from 20-30 years, allowing borrowers to spread costs over extended timeframes. Down payment requirements are typically 10-20% for residents and 15-40% for non-residents.
For practical examples, a CZK 5 million loan over 25 years at 5% interest requires monthly payments of approximately CZK 29,000. A smaller CZK 3 million loan over 30 years at the same rate costs about CZK 16,000 per month.
These mortgage terms make property ownership accessible to a broad range of buyers, though income requirements ensure borrowers can sustain payments throughout the loan term.
What are the best areas and types of apartments if I want to live in Prague long-term?
Long-term residents should prioritize neighborhoods that combine livability, transport connections, and community amenities.
Central areas like Prague 2 (Vinohrady, Nové Město) and Prague 7 (Holešovice) offer vibrant communities, excellent amenities, and strong expat networks. These areas provide walkable neighborhoods with restaurants, shops, and cultural attractions within easy reach.
Up-and-coming areas like Žižkov, Nusle, and Vysočany present excellent value propositions with improving infrastructure, rising popularity, and more affordable entry prices. These neighborhoods are experiencing gentrification while maintaining authentic character.
Budget-friendly options in Prague 4, 8, 9, and 10 offer family-friendly environments with good value, reliable transport connections, and established communities. These areas provide more space for families while maintaining reasonable commute times to central Prague.
For apartment types, 1-2 bedroom units (1+kk, 2+kk formats) in new or renovated buildings provide optimal combinations of comfort, maintenance requirements, and resale potential. Smaller apartments under 70 square meters are most in demand and easiest to resell when circumstances change.
What are the smartest apartment investments today for short-term rentals, long-term rentals, or resale potential?
Investment success in Prague depends on matching property type and location to your specific investment strategy.
Short-term rental investments perform best in central areas near tourist attractions, particularly Prague 1, 2, and 7. Studio and one-bedroom apartments generate the highest returns relative to purchase price, as they're most in demand from visitors and business travelers.
Long-term rental investments should focus on up-and-coming or well-connected districts like Žižkov, Nusle, and Vysočany. These areas attract young professionals and students who form stable, long-term tenant bases while offering potential for capital appreciation.
For resale potential, focus on new builds or renovated properties in growing neighborhoods. Properties near transport links, particularly metro stations, show strongest appreciation potential. Smaller apartments and those in emerging areas typically outperform larger units in established locations.
It's something we develop in our Czech property pack.
Successful investors diversify their portfolios across different property types and locations to balance risk and return potential.
What are the top strategies for getting a good deal when buying an apartment in Prague right now?
Success in Prague's competitive market requires strategic thinking and quick decision-making capabilities.
Focus on up-and-coming or budget-friendly districts like Žižkov, Nusle, Vysočany, and outer areas in Prague 4, 8, 9, and 10. These locations offer better value while still providing good growth potential and livability.
Consider older or panelák apartments for lower entry prices and renovation potential. While these properties require more work, they can provide excellent value for buyers willing to invest in improvements.
Monitor new developments for early-bird discounts or developer incentives. Buying off-plan can provide access to lower prices and choice units, though it requires careful evaluation of developer credibility.
Use professional help from buyer's agents or lawyers who understand local market conditions and can help navigate potential pitfalls. Their expertise often pays for itself through better negotiation outcomes.
Be prepared to act quickly when good opportunities arise, as desirable properties often receive multiple offers. Having financing pre-approved and legal representation ready enables faster decision-making.
It's something we develop in our Czech property pack.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Prague's apartment market represents both opportunity and challenge for buyers in 2025. While prices have reached historic highs, the city's continued economic growth and international appeal suggest sustained demand for quality properties.
Success requires careful market analysis, strategic location selection, and professional guidance to navigate this competitive environment. Whether buying for residence or investment, understanding these market dynamics is essential for making informed decisions in Prague's evolving real estate landscape.
Sources
- InvestRopa - Prague Real Estate Market Analysis
- Expats.cz - Prague Apartment Market Report
- ConBiz - Prague Property Market 2024-2025
- Prague Daily - Housing Market Q1 2025
- Prague Morning - Record High Apartment Prices
- Dreamville - Cheapest Prague Neighborhoods
- Expats.cz - Affordable Apartments in Prague
- Global Property Guide - Czech Republic Taxes and Costs