Lack of real estate on the market: Why summer is the ideal time to buy an apartment

Nedostatek nemovitostí na trhu: Proč je léto ideální čas na koupi bytu

The current real estate market in the Czech Republic is facing a fundamental shortage of available real estate. The demand for the purchase of apartments and houses has long exceeded the supply, both in new buildings and in the supply of older apartments on the market. The speed of new construction cannot keep up with the number of interested parties, which is directly reflected in a significant increase in prices.

On average, property prices have risen by 10 to 12% in the past year, a year-on-year increase that is significantly affecting the ability of many people to purchase their own home. Increased demand and limited supply are creating pressure on the market, which buyers often perceive as intense competition.

However, the summer months bring a slight slowdown in market activity. Due to the holidays, many interested parties are out of reach, creating a relatively quiet period when property can often be purchased at a lower price, especially when there is not as much competition. For those interested in buying, summer can be the ideal time to prepare and take advantage of the offer, which is currently a little more friendly.

However, it is important to remember that this window of opportunity may not last long. A significant recovery in demand is expected in September, especially in Prague and the Central Bohemian Region, where a real battle between buyers for available apartments can be expected. Competition will increase again and prices may rise even more.

So, if you are considering buying a property, the summer months offer an ideal opportunity - less competition means a greater chance of negotiating more favorable terms and possibly obtaining a property that may not be as easily available in the spring or fall.