When it comes to residential real estate assets, Czechs are oriented largely towards an ownership model. The ratio of owner-occupied to rented apartments in Prague, for example, is approximately 70:30, similar to the EU27 average. Still, the Czech Republic is somewhat behind more advanced markets in terms of market evolution towards new trends. However, with the shift to hybrid working, intense talent searches, and the growth of the business services sector, Prague and other large Czech cities will need more flexible housing solutions soon. The average bid price for a newly built apartment in Prague was approximately CZK 155,000 per square meter during Q3 2022. This represents an increase of 7% since the start of the year, according to an analysis done by Colliers.
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