PROPERTY PRICES IN PRAGUE ARE DEFINITELY NOT GOING TO DECREASE

12. 11. 2024

At the end of September, Budapest hosted a symposium of independent real estate companies, LeadingRE. It was attended by 170 guests from 29 countries. The Czech Republic was represented solely by Philip & Frank.

During one of the main discussions, our Managing Partner, Filip Šejvl, explained to the other attendees why Prague is one of the most interesting European cities in terms of the real estate market. Among other things, he said:

“Prague is the real economic centre of the Czech Republic and its location in the very heart of Europe is one of the reasons why to invest in properties in and around the city. Other indisputable advantages include the fact that it is one of the richest European regions with regard to GDP based on purchasing power parity, it has got one of the best public transport systems in the world and, last but not least, it is a very safe place.

Filip Šejvl also mentioned the opinion of one of our French clients who made Prague his home. What this client really appreciates about Prague and the Czech Republic generally is its stable economic environment and potential for further growth. He sees a huge potential in old buildings that could be refashioned into accommodation facilities or blocks of flats. And because Prague is the centre of many universities, other opportunities could be private halls of residence providing premium services.

These factors and the fact that building new development projects in Prague is a very lengthy process keep putting more pressure on the prices of dwellings.

“If nothing unpredictable happens globally, Prague will remain a developed West European real estate market with a potential for further increase in prices. And because the number of Prague’s inhabitants is on an increase, more pressure on the rental housing market can be expected as well. As a result, property prices in Prague are definitely not going to decrease,” concluded Filip Šejvl during the discussion at the international symposium.

Are you interested in investing in properties abroad? Or would you like to offer your property to foreign clients? Thanks to our partnership with the international network of independent real estate agencies, LeadingRE, we have partners in more than 170 countries worldwide.

All you need to do is call or write us:
+420 602 544 858
info@philip-frank.com