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This is experts´ advice: do not postpone plots of land purchases as land prices have constantly been rising. Prices of apartments and houses also returned to the growth.
Prices of apartments and houses are increasing again after the negative period of 2022 and 2023.Most probably, they will never be cheaper. Land has seen an increasing price trend for twenty years in a row. The main reasons are their increasing shortage and their poor availability.The conditions for buying real estate properties have been improving. Falling rates of mortgage interest reach an average of 5.36%, some evaluation criteria of banks have improved, thanks to which more people reach for a mortgage. According to experts, now is the time to buy a real estate.
The post-covid era, high energy prices and uncertainty about their development, the war in Ukraine, high interest rates, enormous inflation, significant increases in mortgage rates, general price increases. Simply put, these factors, among other things, had the greatest impact on the stagnation of the real estate market, the reduction or postponement of real estate purchases until better times, and thus also on the falling prices in this segment.
On average, just last year, apartment prices fell by -3, 1%, the prices of family houses after a slight decrease have already increased by 1.1%. The year-on-year increase in land prices is +4%.
Of course, prices differ significantly in individual regions, whereby the most expensive locations include Prague and the Central Bohemian region, as well as some large cities and their surroundings.
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