In 2024, the Czech Republic experienced a significant decrease in the number of completed apartments. According to data from the Czech Statistical Office (ČSÚ), 31,316 apartments were completed last year, representing a year-on-year decrease of 21.2%. This decline is particularly noticeable in new apartments in apartment buildings and family homes, while the number of apartments created through renovations increased.

"The number of completed apartments in 2024 was the lowest since 2016," said **Petra Cuřínová**, head of the development statistics department at the ČSÚ. While 39,720 apartments were completed in 2023, the number decreased by 8,404 last year. The largest decline was observed in apartments in apartment buildings, where there was a decrease of 25.5% to 17,127 apartments.

In family homes, the decrease was 22.8%, with 11,896 apartments completed. Conversely, the number of apartments created through renovations or extensions increased by 13.7% to 2,293 apartments.

The decline in construction was also reflected in the number of construction projects started. In 2024, 27,766 apartments were started, which is 8.3% less than in the previous year. The most significant decline was again in apartment buildings, where there were 12.5% fewer apartments started. "The number of construction projects for family homes decreased by 4.7%, which is a milder decline than for apartment buildings," added Cuřínová.

From a regional perspective, the most apartments were completed in Prague (6,194 apartments) and the Central Bohemian Region (5,943 apartments). Conversely, the fewest apartments were added in the Karlovy Vary Region (387 apartments). On average, there were 2.9 new apartments per 1,000 inhabitants, which is 0.8 fewer apartments than in 2023.

"The developments in the housing market reflect economic and social factors, such as the increase in the prices of building materials, higher mortgage interest rates, and overall uncertainty in the market," said Cuřínová. Experts expect that the decline in construction may continue in the coming years if conditions in the market do not improve.

ČSÚ/gnews.cz - cik