Prague Buyers Take Their Time as Vendor Discounts Rise: Days on Market Widen in 2026

The average Prague apartment is now lingering on the market for 64 days—its longest stretch since 2020—as a new wave of vendor discounting sweeps the city’s property sector.

The slowdown comes at a delicate moment for the city. As heatwaves rattle Western Europe and the regional security situation remains tense, local buyers and investors have grown increasingly cautious. The change in pace is forcing many sellers to reconsider their price expectations, especially in the city’s most sought-after neighbourhoods.

Discounting Heats Up in Central Prague

Nowhere is the shift clearer than in the historic core. In Malá Strana and Vinohrady, long preferred by both domestic and foreign buyers for their character buildings and proximity to cultural landmarks like the National Theatre, sellers are chopping asking prices by as much as 7-10% by the time a deal finally closes, according to data from REAS.cz. S-Market, one of Prague’s largest real estate agencies, reports that units on popular streets such as Korunní and Nerudova now see an average 4.6% vendor discount—up from just 2.2% a year ago.

"We’re seeing buyers negotiate more aggressively, especially for panelák flats in Žižkov and for larger family apartments in Dejvice," said a senior analyst from the Prague Property Board, who tracks weekly transaction data. This means well-finished two-bedroom flats on streets like Belgická are now often selling for 320,000 CZK below original listing price. Even in Karlín, where demand typically stays robust, average time on market rose to 58 days last quarter, compared to 41 days in early 2025.

By the Numbers: Longer Waits, Steeper Cuts

Market tracking by the Czech Real Estate Association puts the city's median sale-to-list price ratio at 95.2% in June—a level not seen since the immediate post-pandemic period. There are outliers: some luxury listings along Pařížská sat for over 120 days before sellers relented to price cuts of 12% or more. Citywide, the volume of unsold inventory hit 3,180 units at the start of July, up almost 18% from last summer. 2024’s sharp rise in mortgage rates, hovering near 5.25%, has trimmed the number of new loan applications, with Česká spořitelna reporting a 13% year-on-year decline in first-time buyers taking out mortgages.

But the discounting is not uniform. In up-and-coming locations like Smíchov or Libeň, newly built projects anchored by transport links are moving a bit faster—typically 44 days to sale—and rarely require more than a 3% price concession.

Market watchers suggest patience, both for sellers and would-be buyers. "If you’re listing in Prague 3, expect several weeks without an offer, and come prepared to negotiate on price," cautioned one agency manager, pointing to the churn on Chvalova and Prokopova streets. For buyers, September often brings a fresh pool of listings, and some expect further price correction if demand stays soft through autumn. Still, with mortgage interest rates unlikely to fall sharply before winter, those seeking sizable discounts should act decisively—and keep an eye on units that have sat for 60 days or longer.