Apartment prices in 2008: cheaply expensive, railways cheaper

Last year, in fact, there was a decline in apartment prices. In Prague, the most expensive localities, mezzanine prices fell by 3%. The decline affected seven of the ten worst cities in the country. On the other hand, in cheap locations, the apartment was not more than 50% more expensive.

Railroad apartments – prices are falling

Real estate brokers often look forward: buy apartments in attractive locations, where there is a certainty of price stability. This may not be the case at all times. In Prague, for example, apartment prices fell by 3%, falling throughout the second half of the year.

It should be noted that Prague is quite diverse and within the city you can find both very attractive locations and locations that belong to the sub-average due to their transport services and quality of living. In the very historical core of Prague, there was an increase in prices.

According to statistics from the Institute of Regional Information as of 28 November 2008, a standard apartment in the historical center of Prague cost 4,929,367 crowns. Current statistics of the Institute declare the price of an apartment in the same locality to 5,260,823 crowns, which represents a year-on-year increase of 6.7%.

Rst and decline in apartment prices in the worst locality

Msto Rise / decline in apartment prices
(nor 2009 / November 2008)
Rise / decline in apartment prices
(nor 2009/nor 2008)
Prague -4,53 % -3,00 %
Brno 1,73 % -1,90 %
Beroun 1,07 % -1,75 %
Hradec Krlov -3,42 % 0,54%
Kladno -1,14 % -2,96 %
Carlsbad 6,75 % N/A
Beneov -3,42 % 11,02 %
Mlad Boleslav -10,21 % -9,71 %
Plze -8,72 % -4,38 %
Pardubice -7,98 % -5,01 %
Olomouc -2,73 % -9,87 %
Source: vpoty Hypoindex.cz

Olomouc dropped out of the list of the most expensive localities after a decline between August and November, when the city was attracted by the rapidly (price) growing Karlovy Vary. The fall in prices in Hradec Krlov after November enabled Brno to recapture the second most expensive city.

The dramatic decline was recorded especially by Mlad Boleslav, which is changing the automotive wall industry with a strong damping.

The only city with an interesting international growth is Beneov, despite the decline in the last observed period. It is one of the last “cracks” of cities discovered by people moving from Prague or vice versa to work in Prague. During the year, he “glued” the prices to you.

Prices of cheap apartments are rising

The situation in cheap locations is as if from another world. While railway flats are recording a steady year-on-year decline in prices, cheap flats have risen by more than 50%.

During the year, there were several movements within the area of ​​the cheapest apartments. In the middle of the year, Jesenk left the cheapest of the cheapest after the average price of one million crowns. Jindichv Hradec was one of the cheapest in one quarter and Cheb in two quarters.

Rise and fall in apartment prices in the cheapest localities

Msto Rise / decline in apartment prices
(nor 2009 / November 2008)
Rise / decline in apartment prices
(nor 2009/nor 2008)
Most -6,82 % 18,41 %
Teplice -4,80 % 48,93 %
Chomutov -6,53 % 26,96 %
Semily -1,92 % 15,09 %
Bruntl -6,91 % N/A
Dn 2,91 % 18,93 %
st nad Labem -2,94 % 18,54 %
Sokolov -3,15 % 11,70 %
esk Lpa 0,10 % 22,85 %
Prachatice 6,57 % 39,49 %
Cheb 1,21 % N/A
Jindichv Hradec -4,13 % N/A
Autumn 3,25 % 52,01 %
Source: vpoty Hypoindex.cz

What’s coming this year?

Estimates of real estate prices in this year vary. Developers estimate stagnation in prices in their localities (while it offers hundreds of discounts and cars full of cars at the original prices), but there are also voices speaking about a 30% drop in prices.

A very probable variant, however, is that prices in the time of available attractive localities record a decrease in prices (in units of percent), on the contrary, prices of apartments in only “paper” expensive localities (with poor transport service and quality, ie only from the fact that in the “drahm” cadastre, eg in Prague) may also decrease by plates of percent.

For cheap localities, much more is wrong with the impact of the economic recession than with railways. The growth of prices in these localities is growing in the life of the population and their purchasing power. If the region is hit hard, it will certainly fall in price prices and a percentage point. If the region and its employer withstand a recession with a small and bottom-up income, there will be a rise in prices, which will be slower than this year.

The bag will always pay: the price will be the first for which the seller will be willing to sell and the buyer will be willing to buy.

Vce si pette na Hypoindex.cz.