Panel apartment building in Prague
As Radio Prague notes, in some regions of the Czech Republic, prices for panel apartments are higher than for older brick apartments. The statistics were collected by analysts from the real estate agency M&M Reality.
The most significant price increase was recorded in Prague, with cases where a panel apartment purchased five years ago for 2.3 million crowns (90,500 euros) is now being put up for sale at double the price – 4.3 million crowns (over 169,000 euros).
The rise in apartment prices in Prague directly affects the real estate market in towns and cities near the capital. An example is the town of Nymburk, located 45 kilometers from Prague. In 2015-16, one square meter of living space in a panel building here cost 23,000 crowns (at the current exchange rate – 905.5 euros). Today, that figure is 32,000 crowns – 1,260 euros.