Garages in Czechia Are Getting Pricier Faster Than Flats: Up 12% in a Year

Garage spaces in Czechia — especially sought-after in big cities — have risen in price by an average of 12% over the past year and now cost CZK 50,467 per square metre, according to Hana Kontriš, manager of industry services at Seznam.cz.

"Garages and parking spaces used to be seen as a relatively affordable, low-cost investment, but in many locations they're gradually turning into an expensive luxury," she noted. She attributes the price growth to a widening gap between supply and demand: garages are being bought not only by drivers looking for shelter for their cars, but increasingly by investors drawn in by the rapid rise in value of this type of property.

Prague Remains the Priciest, Though It Cooled Slightly

Prague remains the most expensive region, even though prices there actually dipped by 1% over the year. On average, a garage in the capital goes for CZK 62,860 per square metre — almost the same price developers were asking for a new flat back in 2015.

In second place is the South Moravian Region, at CZK 49,705 per square metre, marking an 8% rise over the year. According to the Sreality portal, garage listings in Brno most commonly go for around one million crowns.

Record Growth in Moravia

The steepest increase was recorded in the Olomouc Region, where garage prices jumped 20% over the year to reach CZK 40,632 per square metre. Prices also climbed by more than 20% in the Moravian-Silesian and Pardubice regions.

Read also: Brno: What to See and Where to Go

Source: novinky.cz