Czechs growing  increasingly fond of ‘panelak’ apartments

10-07-2020

Czechs are growing increasingly fond of the Communist-era panelaky, or prefabricated panel houses, website Aktualne.cz reports. Apartments in such houses are increasingly popular due to their favourable price and easy accessibility, as well as the presence of good public amenities and greenery.

Apartments in such houses are increasingly popular due to their favourable price and easy accessibility, as well as the presence of good public amenities and greenery.

“The cost of apartments in prefabricated houses may not have the best reputation, but their popularity is growing rapidly, mainly because of their accessibility, both in terms of price and location,” Andrea Daňhelová of Fincentrum told the website.

At the end of last year, apartments in panel houses were about 25 percent cheaper than those in old brick houses and 36 percent lower than in the newly built houses.

Photo: Lenka ŽižkováPhoto: Lenka Žižková Due to their growing popularity, however, their price continues to grow. According to data by the consultancy Deloitte, the price of panelak apartments increased year-on-year by 6.4 percent on average to 47,900 crowns per square metre.”

According to the head of the real estate company Maxima Reality, Vladimír Zuzák, the price of a panelak apartment very much depends on its state.

“Newly reconstructed apartments in prefabricated houses can sell for a price comparable to apartments in older buildings, Mr Zuzák told Aktuálně.

The price of panelak apartments in the most sought-after localities has grown significantly over the past couple of years. At the same time, prices of similar apartments in the outskirts are likely to stagnate or even go down.

According to Jan Boruta of the real estate company FérMakléři.cz, their clients usually don’t decide according to whether the apartment is in a brick house or a prefabricated concrete building:

“Our clients are mostly interested in the location and public amenities. Panelák apartments have a favourable price and usually also have lower energy costs.”

Most of the Czech Republic’s pre-fabricated estates were built between the 1960s and 1980s and to this day they house around three million Czechs.

The first panel house in Prague was built exactly 65 years ago in the district of Staré Ďáblice.

10-07-2020