Living in: Prague
Overall the entire property market is stagnant, but since there are a lot of properties are available, and new properties are starting to coming on line, prices will drop further, which is good news for buyers. “The means there will be a drop by 5 to 7% in prices next year,” Svoboda said. “Most sellers will get 10 to 20% less than asking price.”
For good value, look at the best apartment in the nicest buildings in well-established locations. “Right now prices don’t differentiate much between a corner apartment with a park view compared to one without,” said Svoboda. But he believes that will change, as the market evolves and matures. “Focus on buying properties with good views, good light and original details.” In the central areas, apartments cost around 100,000 CZK per square metre.
The most important thing is finding an ideal fit. “Prague is a very small city,” said Svoboda. “Learn what area is right for you.”
The Prague Post: English-language newspaper with news, reviews and blogs
Prague Daily Monitor: English-language newspaper with news, business and daily emails
A Tout Prague: a city guide in English, French and Czech