Prague Residential Market in 2026

New apartment prices are rising at a double-digit pace despite weaker sales. Supply is at its highest level in a decade, yet developers still prefer to add purchase incentives rather than cut list prices.

Prague's residential market entered the second half of 2026 with new price records and a clearly wider choice of homes. This is not, however, a buyer's market. Sales in the first half of the year were lower than in record-breaking 2025, but accelerated again in the second quarter. At the same time, the average asking price of a new apartment approached CZK 188,000 per square metre, while the average value of a unit on offer exceeded CZK 11.8 million.[1]

The latest comparable data cover the period through the end of June 2026. They show a market in which higher supply improves choice but still does not create broad pressure for price cuts. For investors and buyers, the key considerations today are not only Prague apartment prices, but also location, payment schedules and the value of incentives offered outside the price list.

Sales are weaker than a year ago, but momentum is rising again

According to a joint analysis by Central Group, Skanska Residential and Trigema, approximately 1,800 new apartments were sold in the first quarter of 2026 and around 1,950 in the second. This gives a total of about 3,750 units in the first half of the year. Sales reached 4,300 apartments in the corresponding period of 2025, meaning the year-on-year result fell by around 13%. The second quarter of 2026 alone was nevertheless 11% stronger than a year earlier and more than 8% ahead of the first three months of the year.[1][2]

It is important to note that sales statistics are not uniform. EKOSPOL, which uses its own monitoring database, reported 2,940 apartments sold in the first half of 2026, down 17.4% year on year. The company also calculated a lower result for the whole of 2025: 6,910 units, compared with 7,800 in the dataset compiled by the three leading authors of the market analysis. The discrepancy reflects differences in project coverage and transaction-classification methods. The figures should therefore be compared only within the same methodology rather than combined into a single series.[3]

Both sources nevertheless point in the same direction: 2026 is not repeating the record volume seen at the beginning of 2025, but demand remains high by historical standards. One-room and one-bedroom apartments, known locally as 1+kk and 2+kk units, attracted the greatest interest and together accounted for almost three quarters of second-quarter sales. Around one quarter of transactions took place in Prague 5, while Prague 9 and Prague 10 each accounted for nearly one fifth.[1]

New apartment prices set further records

At the end of the second quarter, the average asking price on the primary market reached CZK 187,781 per sq m. This was 10.1% higher than a year earlier, when it stood at CZK 170,594 per sq m. The average price of apartments actually sold rose from CZK 165,019 to CZK 182,845 per sq m, an increase of 10.8%. The average value of a unit in the current offer exceeded CZK 11.8 million, while the average price of an apartment sold reached approximately CZK 10.6 million.[1][2]

Differences between districts are wider than the typical scope for negotiation. In Prague 2, the average sales price exceeded CZK 271,000 per sq m, while in Prague 10 it was around CZK 159,000. Studio apartments, or 1+kk units, remained the most expensive on a per-square-metre basis at more than CZK 206,000. One-bedroom 2+kk apartments sold for an average of almost CZK 180,000 per sq m, while two-bedroom 3+kk units exceeded CZK 167,000.[1]

High prices are encouraging the market to reduce floor areas. According to data cited by Trigema, the average unit sold has shrunk from around 66 to 56 sq m over six years. A smaller apartment keeps the total purchase budget within reach of a broader group of customers, even though the unit price remains high. The social impact is visible in the international Deloitte Property Index 2025: Prague ranked as Europe's third least affordable city for home purchases, with a result equivalent to 15 gross annual salaries.[1][4]

More supply does not mean market balance

At the end of June, approximately 6,450 new apartments were available for sale. A year earlier, the figure was around 5,750, representing supply growth of more than 12%; compared with the end of the first quarter of 2026, availability increased by more than 18%. This is the highest level in ten years and a significant improvement for buyers, but it remains well below the roughly 10,000 units that the industry considers necessary to meet the needs of a growing metropolitan area.[1][2]

More than 60% of available apartments are concentrated in three districts, with the widest choice in Prague 9. The historic centre, Prague 1 and Prague 2, accounts for only around 2% of total supply. By unit type, 2+kk apartments dominate, representing almost 44% of available homes; around one quarter are 3+kk units and just under one fifth are 1+kk units.[1]

The increase in supply largely reflects the launch of several major development phases rather than a breakthrough in the administrative process. From January to May 2026, permits covered 2,878 apartments in multifamily buildings in Prague, more than 15% fewer than a year earlier. Without a sustained increase in permitting, the current expansion in supply may therefore prove temporary.[1]

Discounts are disappearing from price lists

Public market data do not provide a reliable average discount figure. The closest robust indicator is the gap between average asking and sales prices. In the second quarter of 2026, this amounted to CZK 4,936 per sq m, or 2.6% of the asking price. A year earlier, the figure was around 3.3%. This is not a literal discount, however: the two indicators relate to different baskets of apartments, and the outcome is affected by the mix of units, districts and transaction timing. Even so, the narrowing gap suggests that room for negotiation is not expanding in line with supply.[1][2]

A review of current offers from the largest developers shows a shift away from price cuts towards non-price incentives. Central Group promotes a structure with a 10% deposit and the option to withdraw under specified conditions until the apartment is handed over, as well as assistance with preferential financing. YIT highlights selected units fitted with kitchens and appliances. FINEP advertises promotional offers for a limited pool of homes but does not publish a single discount across its entire portfolio. Skanska Residential's public listings likewise showed no confirmed general discount covering all apartments.[8][9][10][11]

In practice, the value of an incentive must be calculated for each specific unit. A free kitchen, parking space, storage unit, upgraded fit-out or deferred payment schedule may be worth more than a nominal price reduction. The greatest scope for negotiation usually arises with completed, larger or unusual apartments, or units that have remained on the market longer than the most liquid 1+kk and 2+kk homes.

The largest developers set the tone for supply

There is no single current public ranking of market shares compiled under a common methodology. Central Group, FINEP, Skanska Residential, YIT, Trigema and EKOSPOL nevertheless rank among the clear leaders in terms of scale, project numbers and consistency of sales. Penta Real Estate, Sekyra Group, JRD and Metrostav Development also play important roles in major urban projects. IPR Praha data show a market that combines several recurring leaders with a large group of project-focused developers.[5]

Central Group remains the Czech Republic's largest residential developer. Between 2014 and 2024, the company delivered almost 8,000 of the more than 50,000 apartments completed across Prague's entire market during that period. In September 2026, it announced the resumption of construction on more than 2,000 units with a combined value of approximately CZK 17 billion. This decision could materially alter future supply, although the apartments will reach the market in phases.[6][7]

FINEP has a broad presence in multiphase residential schemes and also develops the cooperative ownership model; in September 2026, its website listed 140 new apartments across nine Prague projects. Skanska Residential showed 346 units, focusing on energy-efficient and certified developments. YIT was selling across four Prague project lines, including schemes in Barrandov, Roztyly and Kamýk. Trigema combines residential development with mixed-use projects, while EKOSPOL positions itself in the mass-market segment. Figures from company websites are a snapshot of current availability, not a ranking of annual sales.[9][10][11]

Outlook for Prague's residential market

The most likely scenario for the coming quarters is that prices remain high while supply grows moderately. Demand is supported by rising incomes, investor activity and mortgage lending: in the first half of the year, banks and building societies issued almost CZK 216 billion in new mortgages, CZK 66 billion more than a year earlier. At the same time, the average rate on new loans rose to 4.79% in June, meaning financing costs continue to constrain some households.[1]

The new spatial plan and changes to construction law may eventually increase land supply and shorten procedures, but their impact on completed homes will be delayed. In the short term, launches of major phases and decisions by the largest companies matter more. Central Group's announced return to construction is a positive signal, but it does not eliminate the structural shortage.[1][7]

Prague's primary market is therefore moving from a phase of record sales into one of record prices with a somewhat wider selection. Buyers have more offers to compare, but they still lack the leverage required to force widespread price cuts. In 2026, the key factor is not the size of the advertised discount but the total cost of a specific apartment, including financing, fit-out and delivery-timing risk.

Sources and methodology

Sources current as of 20 September 2026. The main price, supply and sales series comes from the joint analysis by Central Group, Skanska Residential and Trigema. EKOSPOL data are presented separately because they use a different methodology. Percentage changes and differences were calculated from the published values.

1. Prodej nových bytů v Praze zrychlil. Ceny vzrostly o desetinu a trhají rekordy. Seznam Zprávy, 29 July 2026.

2. Analýza: Pražský trh s novými byty vzrostl meziročně o čtvrtinu. Skanska, 5 August 2025.

3. Developeři letos v Praze prodali takřka 3000 nových bytů. EKOSPOL via Kurzy.cz, 13 July 2026.

4. Deloitte Property Index 2025. Deloitte, 2025.

5. Analýza aktuálních developerských bytových projektů v Praze 2009 až 2024. IPR Praha, May 2025.

6. V Praze se za 10 let postavilo 50 tisíc bytů. Central Group, 13 May 2025.

7. Na český trh zamíří 2000 bytů. Central Group obnovuje výstavbu. Novinky.cz and ČTK, 7 September 2026.

8. Garance vrácení peněz. Central Group, accessed 20 September 2026.

9. Byty vybavené kuchyňskou linkou. YIT Czechia, accessed 20 September 2026.

10. New apartments in Prague. FINEP, accessed 20 September 2026.

11. New apartments in Prague. Skanska Residential, accessed 20 September 2026.