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Apartment prices continue to rise in Czech Republic

Xinhua, November 20, 2016 Adjust font size:

The prices of apartments in the Czech Republic continue to grow in 2016, local media reported, citing information from statisticians, developers and real estate agencies.

In many places, the demand is exceeding the supply.

Traditionally, the most expensive apartments are located in Prague, followed by Brno and Hradec Kralove.

In Prague, prices of new apartments rose in the third quarter by 4 percent to 72,609 crowns (about 2,845 U.S. dollars) per square meter, while the price of older apartments increased on average by 7.1 percent to 70,466 crowns (about 2,761 U.S. dollars) per square meter.

Increases in the prices of apartments are different between city center and suburbs. New apartments in the city center are three times expensive than in suburbs in Prague.

In Brno, the best-selling two-room flats' prices rose to an average of 2.847 million crowns (about 111,566 U.S. dollars), some 150,000 crowns (about 5,878 U.S. dollars) higher than a year ago.

In Hradec Kralove, the prices of new flats is over 40,000 crowns (1567 U.S. dollars) per square meter, while two years ago it was at an average of 25,547 crowns (about 1,000 U.S. dollars). Endit