During the summer season, prices of cottages and chalets traditionally rise and holiday properties reach their price peak. This year, however, there has been a surprising drop in prices. According to experts from real estate agencies, the prices of some holiday properties have noticeably dropped in 2024. But is this the case for all holiday properties?

In the current trend, not only the location plays a big role in the price of a holiday property, but the condition of the property is also crucial for buyers. People are willing to pay higher amounts for well-maintained cottages. It can be said that the market has actually divided into two parts. The first one includes ordinary older cottages in need of renovation, whose prices have tended to fall. The second part of the market includes properties with high architectural value or those in attractive locations where prices have remained stable.

For example, the prices of cottages in Bohemian Switzerland range between five and eight million crowns. According to brokers, this price corresponds to the attractiveness of the location and the condition of the property. Prices are also not falling for foothill and mountain cottages in the Liberec and Hradec Kralove regions, where typical timbered houses with preserved folk elements have seen a year-on-year increase of up to 30%, which in some cases means a value of up to CZK 15 million. On the contrary, in the Cesky Raj, where demand for real estate is also high, it is now possible to buy a log cabin before reconstruction for CZK 3 million, which is roughly half a million less than a year ago.

For those interested in buying, the offer is varied, and those who are not in a hurry can wait for the autumn price drop after the season. On the other hand, the wait should not be too long, as the Czech National Bank can be expected to cut the base interest rate, which may lead to rising property prices.

Another variable may be the new trends, where people are becoming increasingly aware that for the price of a cottage near Prague they can get a property by the sea in Spain or Croatia.

In addition, planned adjustments to property taxes, which have increased especially in holiday areas, may influence buyers' decisions. Annual property taxes may be up to several thousand crowns higher than in previous years.