Panel flats became more expensive by a fifth. They are also starting to be interesting for investors

At the end of February, flats in prefabricated houses in the Czech Republic rose by 19.5 percent year-on-year to CZK 38,452 per square meter. The most expensive were in Prague, the cheapest in the Ústí nad Labem region. Prices of flats in brick houses rose by 10.8 percent to 39,883 crowns per square meter. The difference between the average price for a brick and panel apartment decreased by 2688 crowns per square meter year-on-year. This follows from the data of the company Reas, which maps the real estate market in the Czech Republic on the basis of data from the real estate cadastre.

“In their beginnings, prefabricated houses were a kind of attempt to solve the housing crisis in socialist Czechoslovakia as quickly as possible. Most of them were built between 1958 and 1990, and in 1985 panel construction accounted for almost 99 percent of all new dwellings in apartment buildings. Today, they are an interesting alternative to expensive brick and monolithic houses not only for those interested in their own housing, but also for investors. Which, of course, pushes prices up, “said Michal Makoš, CEO of Reas.

After Prague (82,313 crowns per square meter), flats in prefabricated houses were the most expensive in the South Moravian (58,195 crowns), Central Bohemia (43,959 crowns) and Pardubice regions (40,825 crowns). On the other hand, the cheapest Ústí nad Labem region (17,491 crowns) is followed by the Karlovy Vary region (18,728 crowns) and the Moravian-Silesian region (24,639 crowns per square meter).

Prices of prefabricated flats increased the most year-on-year in the Plzeň Region (by 36.5 percent), the South Moravian Region (by 26.9 percent) and the Moravian-Silesian Region (by 26.4 percent). They increased the least in the Karlovy Vary (by 8.6 percent), Central Bohemia (by 13.2 percent) and Zlín regions (by 13.4 percent).

“The situation on the housing market forces those interested in buying real estate to look for other alternatives. In addition to their price, the great advantage of panel flats is most often also a good location and the availability of civic amenities. In addition, a number of prefabricated houses have undergone considerable revitalization in recent years, so they are no longer gray unsightly cubes, but modern housing that meets even the most demanding requirements, ”added Makoš.

According to Reas, most panel flats were sold last year in Prague, 3178. They were followed by the Ústí nad Labem Region with 2,541 flats and the Moravian-Silesian Region with 2,321 flats. A total of 19,957 flats in prefabricated houses were sold in the Czech Republic.

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