Prague Property Sellers Forced to Cut Prices as Listings Linger Longer

Sellers across Prague are waiting longer to strike a deal this summer as average days on market for residential listings climbs to its highest level in four years, forcing many vendors to offer steeper discounts to attract wary buyers.

The shift comes at a critical time. With European interest rates still elevated, an uncertain security backdrop in the region, and the aftershocks of last year’s record energy bills, Prague’s real estate market is facing its stiffest headwinds since 2020. For buyers, it’s a time to negotiate. For sellers, the message is clear: Price competitively, or prepare to wait.

Longer Waits in Prime Neighbourhoods

Nowhere is this dynamic more visible than in Prague 2’s Vinohrady and Prague 7’s Letná. At the popular Riegrovy Sady end of Vinohrady, flats that might have changed hands in under a month before the pandemic are now sitting unsold for an average of 55 days, according to ČSOB Reality. On Korunovační street in Letná, several two-bedroom units listed in April were still on the market approaching July, with some sellers quietly trimming asking prices by 4 to 6 percent since early May.

Developers have felt the pinch as well. YIT Stavo, which recently launched the second phase of its Parvi Cibulka project near Vidoule park, confirmed only five reservations in the past six weeks, compared with a usual monthly pace closer to 10 during summer.

Discounts Widen as Sellers React

Hard data released last week by Bezrealitky, the property portal, confirms the trend: Median days on market for Prague condos rose to 47 in June, up from 33 a year earlier and the highest since the spring of 2020. The average vendor discount—the gap between initial listing and final sale price—widened to 4.2 percent citywide, up from 2.8 percent in June 2025. In Prague 5 and Prague 6, nearly one in five sellers accepted offers 7 percent below asking, an outcome rarely seen even during last year’s market slowdown.

According to RE/MAX Czech Republic, the median asking price for a 60m² flat in Karlín held steady at 8.6 million CZK, but actual sale records show a growing number of deals closing at or below 8.2 million. "Vendors who cling to their ideal price are seeing their properties linger," said a senior broker at one Vinohrady agency, speaking on background.

What’s Next for Buyers and Sellers

With the market correction now well underway, local agents expect the days-on-market figure to stay elevated through the autumn, especially if mortgage rates remain above 5 percent. For buyers, this presents more leverage at the negotiating table—particularly in the mid-market segment of 6 to 10 million CZK. For sellers hoping to avoid extended vacancies, realistic pricing and flexibility on conditions are fast becoming non-negotiable. The message in today’s market: patience is a virtue, but pragmatism is a necessity.