Czech property prices move ahead solidly in 2015 Q2

Czech Point 101 August 7, 2015 @ 3:17PM

Czech property prices moved ahead solidly in all categories in Q2 2015 – HB Index confirms.

Flat prices in Prague, Brno and Olomouc regions advance

Prices are approaching their 2010 level which is used as the basis point by Hypoteční banka for their comparisons.

Flat prices grew over 1% quarter-over-quarter with the annual change now at 5.6%. Reports indicated that Brno’s quarter-over-quarter gain was almost 2% while Prague’s was 0.6%. This continues the trend from Q1 where Brno’s gains outstripped those of Prague’s.

In fact, Petr Němeček as CEO of Hypoteční banka, said that sales of new flats in Prague had ‘gone a little cold’ in Q2. However, he attributed this to the fact that in the previous quarter the most attractive offers had been seized and now potential buyers were waiting for new projects due to be released in September of this year.

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Czech property - flats - prices in Q2 2015

House prices gain 0.9% quarter-over-quarter

House prices increased in Q2 with the annual price growth now at 3.3%. Mr. Němeček said this was due to a number of factors but primarily an increase in the cost of building materials. He also said that there continued to be strong interest in energy-efficient houses built out of wood or bricks in the vicinity of Prague and Brno.

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Czech property - houses - prices for Q2 2015

Land prices march steadily higher

Land prices moved higher as they have done right through the recession that affected all other Czech property classes. The growth quarter-on-quarter was 0.7%.

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Czech property - land - prices increase Q2 2015

Czech property headed for a fantastic 2015

With gains looking to continue in Q3 and Q4 our original Czech property forecast for 2015 of a 6% price increase may prove to be too conservative.

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