Proceedings of the International Conference on Economics, Finance & Business, Paris

ANALYSIS OF THE DYNAMICS OF THE CZECH PROPERTY MARKET: TRENDS IN PRICING, ENERGY EFFICIENCY AND OWNERSHIP

EDUARD HROMADA, KLARA CERMAKOVA, LUCIE KUREKOVA, BOZENA KADERABKOVA

Abstract:

This paper examines the evolving landscape of the real estate market in the Czech Republic from 2018 to 2023, focusing on apartment pricing trends, the impact of socio-economic factors, apartment sizes and layouts, energy efficiency in residential buildings, and distinctions between ownership types. The study categorises Czech cities into different price tiers and discusses the implications of these categories for potential investors, homebuyers and policymakers. It also examines the standardisation of apartment layouts across cities, the gradual improvement in energy efficiency ratings, and the shift from co-operative and state-owned/community owned to private ownership. The results show a general upward trend in house prices, interrupted by a slight decline in 2023 due to higher mortgage rates triggered by the Czech National Bank's anti-inflationary measures. The expected future easing of these rates should stimulate the market's recovery. This comprehensive analysis helps to delineate key trends and offers a deeper understanding of the factors shaping the Czech Republic's real estate market, providing valuable insights for stakeholders in the sector.

Keywords: Real estate market, pricing trends, apartment layouts, energy efficiency, property ownership, socio-economic factors, market analysis, housing affordability, investment opportunities.

DOI: 10.20472/EFC.2024.021.003

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