For the first time in many months, housing prices dipped slightly (2%) in the month of March. This, along with the incredibly cheap mortgage rates, created an advantageous market for an interested buyer. However, this dip in March is a small step backwards in the grand scheme of things as housing prices have steadily been on the rise for years now. This trend of rising prices is leading investors and personal buyers to snatch up homes before the prices get too high. Statistics show that newer flats especially are showing a great jump in price. With prices on the rise by 5% and with a 24% price increase since June of 2010, prices are only predicted to continue to rise as the city of Prague experiences great prosperity.
Even with the rising prices, the housing affordability index shows that Czech wages are increasing at a faster rate than the increase in prices, which bodes well for the standard of living of Czech citizens.
While housing prices in Prague are seeing the most dramatic increases, prices in even the most remote regions of the Czech Republic are increasing as well showing that the Czech Republic as a country is a solid place to invest in real estate.