Large New-Build Flats in Prague Becoming Increasingly Scarce and Expensive

Large new-build flats are becoming increasingly scarce on Prague’s property market. As developers primarily build smaller units, prices per square metre for flats with four or more rooms are rising significantly.

The shortage of larger flats in new developments is changing price dynamics on Prague’s residential property market. Prices per square metre for flats in the 4+kk category and larger are increasingly approaching those of small investment flats, which have traditionally been among the most expensive new-build properties.

The reason for this development is the limited supply of larger family flats over recent years. Developers have significantly reduced their construction in recent years and are focusing more heavily on smaller layouts. These can be sold more quickly and better reflect the high demand from investors.

Foto: LEXXUS NORTON

Large Flats Disappearing From the Market

The limited supply of flats in the 4+kk and 5+kk categories is driving up their prices. According to property company LEXXUS NORTON, the price difference between the smallest and largest new-build flats is now narrower than it has been for several years.

“One-room flats remain the most expensive type of new-build property in terms of price per square metre. However, their price advantage is gradually diminishing. The difference between the price per square metre of the smallest and largest flats is now lower than it has been for years,” explains Anna Gruberová, Managing Director of LEXXUS NORTON.

The average asking price for a new-build flat in the 1+kk category currently stands at CZK 203,245 per square metre. For a flat in the 5+kk category, the average asking price is CZK 184,866 per square metre.

The price difference between a large family flat and a one-room flat is therefore now only 9.9 per cent. Ten years ago, the difference was still around 15 per cent.

Foto: LEXXUS NORTON

New-Build Prices Continue to Rise

The average asking price for new-build flats in Prague, including VAT, currently stands at around CZK 182,000 per square metre. This represents an increase of 8.2 per cent compared with the previous year.

The price trend is being reinforced by the limited supply of new developments, lengthy approval procedures and rising construction costs. The limited capacity of construction companies is also contributing to the situation.

Since spring 2026, however, prospective buyers have become more cautious. Decision-making processes are taking longer, and some potential buyers are postponing the signing of purchase contracts.

LEXXUS NORTON cites the renewed slight rise in interest rates following two years of gradual declines, as well as growing geopolitical uncertainty, as reasons. According to the property consultants, prices are likely to continue rising, albeit more slowly than before.