Asking prices versus sale prices in Prague: why the gap matters

A flat in Vinohrady is advertised at one price, and a few weeks later a contract is signed at another. The newspaper reports the first. The cadastre eventually holds the second. If you are selling, the difference is your negotiating room. If you are buying, it is your budget. If you are reading a market report, it is the reason two sources can disagree about the same quarter.

This explainer defines the three kinds of price in use, explains why they diverge, shows what the main data sources measure and sets out what the gap tells you. It quotes no current gap, because it changes and is measured differently by every source. For the broader method of reading reports, see reading a Czech real estate market report.

Three prices for one flat

The asking price is what the seller wants. It is set before any buyer has responded, and it reflects the seller's hopes, the agent's advice and the price of comparable flats on offer.

The valuation is an estimate by an appraiser, often commissioned by a bank that will lend against the flat. It is meant to reflect what the flat would fetch in a normal sale, judged by comparable sales. See how the bank values your flat.

The sale price is what the buyer and seller agree in the contract. It is the only one of the three that is a completed transaction.

The sale price is not always lower than the asking price. In a hot market flats sell at or above the asking price, particularly where several buyers compete. In a cool market, flats sit unsold, and sellers reduce their price or withdraw. The gap is therefore a measure of the balance between buyers and sellers, not a fixed discount.

Why the gap exists

Negotiation. Most buyers offer less than the asking price, and many sellers expect it. A seller who knows this may set a price with room to move.

Listing strategy. A high start tests the market. A price that is too high draws few viewings; a price slightly under the market draws more and can produce a quick sale. Agents differ in their advice.

Time on market. A flat that stays listed for months usually ends up selling for less than its first asking price, which is why the number of days on market is a useful signal. See how long it takes to sell a flat in Prague.

Condition and features. What is advertised may differ from what is inspected. A survey, a visit or a legal check can lead to a lower offer; see legal checks before buying.

Incentives in new-build sales. Developers rarely cut list prices. They may offer extras instead, such as a parking space or storage unit at no charge, a kitchen or a payment-schedule concession. The headline price stays and the effective price falls. For the VAT effect on such extras, see VAT on new-build flats.

Stale listings. Some flats listed on portals are no longer for sale or were sold, and some are duplicated across agents. They distort the average asking price.

What each data source measures

The Czech Statistical Office and Eurostat publish indices of property prices. How these are built, and whether they rely on asking, appraised or registered prices, is described in their methodology notes, which you should read before comparing them with portal data. Our guide to reading Prague real estate news explains what to look for in a news story.

Ownership transfers are recorded in the cadastre, and the contract is kept in its collection of deeds (sbírka listin). Under the Cadastre Act anyone can obtain a copy of a deed for a fee, although deeds cannot be viewed in the free online viewer; remote access needs a login or an electronic identity, and access is logged. The cadastre's data on prices achieved (údaje o dosažených cenách) are released only to applicants who prove their identity (as of 2026; check ČÚZK). See how the land registry works for the process.

When the old acquisition tax existed, there was an incentive to state a lower price in the contract. The tax was abolished in 2020 and that incentive is gone, but older price data may be affected, a point worth bearing in mind when comparing long series.

A hypothetical example

All figures are invented. A flat is listed at CZK 8,000,000 and sells for CZK 7,600,000. The gap is CZK 400,000, which is 5% of the asking price (400,000 ÷ 8,000,000).

Now suppose that, a year later, asking prices for similar flats have risen by 5%, to an average of CZK 8,400,000, but sale prices have risen only 2%, to CZK 7,752,000. The gap is now CZK 648,000, or about 7.7% of the asking price (648,000 ÷ 8,400,000). An index of asking prices would show a rise of 5%, and an index of sale prices a rise of 2%. Both are true, and the widening gap is the story. It suggests sellers are asking for more than buyers will pay.

Two traps in reported "discounts"

Agencies and portals sometimes publish an average discount between asking and sale prices. It is a useful figure and easy to misread.

Survivorship. A discount calculated only from flats that sold leaves out those that did not. In a weak market, many flats are withdrawn and relisted, and a discount that counts only completed sales looks smaller than the real gap.

First price or last price. A flat repriced three times and then sold may have a small gap against its last asking price and a large one against its first. Ask which one the figure uses.

Either trap can make a reported discount look smaller than the one a buyer actually met. That is no accusation of bad faith, but it is why a figure with a definition is worth more than one without.

The gap in different markets

The gap is not the same across the city or across types of flat. Small, well-priced flats near transport tend to attract several viewings and sell close to the asking price. Larger, unusual or poorly maintained flats take longer and sell at a bigger discount. New-build units are priced by the developer, and the gap shows up in concessions. A citywide gap average blends all of these, so a reader interested in a particular district and size should look for figures for that segment, or collect their own as described below.

For sellers

A seller's best defence against a large gap is a realistic first price. Compare your flat with sales, not only with listings, ask the agent for evidence, and be cautious of any valuation that is far above what comparable flats are fetching. Our guide to valuing your flat before selling lists the steps. A free valuation can give you an estimate, such as the valuation service on Odhad.homerealestate.cz (in Czech), and the property sale calculator on Hypoteky.com shows what you keep after costs. Neither replaces a survey of the specific flat.

For buyers

A buyer can use the gap to set a sensible offer: look at how long similar flats have been listed, what they sold for if you can find out, and what the bank's valuer is likely to say. A bank lends against the lower of the price and its valuation (confirm with your lender), so if the valuer comes in below the price, the buyer must cover the difference from own money. Our guide to the real cost of buying a flat in Prague covers the other costs, and apartment prices by district shows how districts differ.

Frequently asked questions

Do Prague flats usually sell below the asking price?

On average yes, but the size of the gap changes with the market. In a hot market flats may sell at or above the asking price.

Is the price in the contract the real price?

It should be. Since the acquisition tax was abolished in 2020 there is no tax reason to understate it, and banks, notaries and the cadastre process all rely on the contract.

Where can I find actual sale prices?

Official price indices from the Statistical Office and Eurostat, and local agents' records. A copy of a filed contract can be ordered from the cadastre's collection of deeds, and its price data go to identified applicants (as of 2026; check ČÚZK).

Does the bank lend on the asking price?

Banks usually lend against the lower of the price and their own valuation, so a low valuation reduces the loan. Confirm the rule with your lender.

This is a general explainer, not legal, tax or mortgage advice.