The prices of new apartments in Brno continue to rise, with the average price per m² now standing at 132,500 crowns

photo: MIG

Brno – Prices of new apartments in Brno continued to rise in this year’s second quarter, despite the fact that there were three times more available apartments on the market than a year ago. The average price per square meter in new construction increased year-on-year by 17 percent to 132,500 crowns.

At the beginning of summer, Brno developers offer 1,220 available apartments. This is almost three times more than a year ago. Prices of new constructions in Brno, however, are not falling and remain at historical highs. The situation with price development is not helped by the postponement of the new zoning plan, which was supposed to expand options for building affordable housing.

Whereas a year ago, potential buyers of a new apartment could choose from 440 available apartments, this year there are 1,220 in 50 development projects. The price of new housing has not decreased, even though for a long time the limited supply of new apartments was one of the reasons why the average price per square meter was rising.

In the second quarter of last year, the average price per square meter in a new apartment was 113,000 crowns; this year, the average price has risen to 132,500 crowns per square meter. The most expensive are, on average, one-bedroom apartments, where the price per square meter climbs up to 135,000 crowns.

You can buy an average new studio apartment in Brno for 4,850,000 crowns. For a two-room apartment, interested buyers will pay 7,300,000 crowns. If the buyer requires three rooms, the average price already climbs over 10,000,000 crowns. Multi-room apartments cost an average of 14,500,000 crowns.

The interest in smaller apartments continues, as the demand for one-bedroom and two-bedroom apartments represents 75 percent of all transactions. However, rising interest rates may currently dampen demand.

Further construction of new housing in Brno may be complicated by the revision of the zoning plan, which representatives approved last week. Investors estimate the approval time for the new zoning plan to be one to three years.