Renovated vs. Original Panel Apartment in Prague: How Much Can the Price per m² Differ?

If you’re considering selling a panel apartment in Prague – especially in Prague 4, which has the highest concentration of panel buildings – you’re likely wondering how much impact the condition of the apartment truly has. Two apartments right next to each other, in the same building, on the same floor, with the same layout can have completely different values.

As a real estate agent, Jan Halík from REMAX Atrium, who has been specializing in panel apartments for many years, I encounter this every day. The price difference between a fully renovated apartment and one in its original or 20+ year-old condition is much more significant in Prague than many sellers expect.

⬆️ What Increases the Value of a Fully Renovated Panel Apartment in Prague

The advantage of panel apartments is that their layouts are almost identical. This means buyers compare them very precisely – and renovation becomes a decisive factor.

Significant value boosters include:

• new electrical wiring

• fully renovated bathroom and toilet

• custom-made kitchen

• new flooring

• drywall ceilings or layout modifications

• air conditioning

• smart home technologies (heating, lighting, security)

Professionally renovated apartments look modern, clean and are immediately move-in ready. And this “no hassle, no work needed” factor is one of the main reasons why buyers are willing to pay extra.

☘️ Apartments in Original Condition or After an Older Renovation

“Original condition” usually means:

• old electrical wiring

• original or umakart (prefab) bathroom core

• worn bathroom

• old kitchen

• old flooring

• higher risk of hidden defects

Even an apartment renovated twenty years ago is now perceived by buyers as one requiring modernization.

All of this clearly signals to buyers that they will need to invest both time and money themselves — and the price reflects that.

🧩 How Much Does the Price per m² Differ? Real Numbers from the Prague Market

In panel buildings that have already undergone revitalization (insulation, new risers, elevator, plastic windows), the price difference between two equally sized apartments in the same building typically ranges:

👉 10,000 to 30,000 CZK/m²

And for apartments after truly high-standard renovations (quality materials, air conditioning, smart technology, major layout changes):

👉 up to approx. 35,000 CZK/m²

These figures correspond to common transactions in Prague and stem from long-term experience with selling panel apartments in Prague 4, 8, 9, 10, and 11. Buyers perceive the value of a fully finished interior very clearly – and equally understand the cost and complexity of renovating a panel apartment.

🏡 Why Is the Price Difference So Significant Specifically with Panel Apartments?

1. Layouts are almost identicalBuyers compare units directly – condition and execution become the deciding factors.

2. Renovation in a panel building has predictable costsComplete modernization of the bathroom core, electrical systems, flooring and kitchen involves substantial expenses. Buyers know this and adjust their offers accordingly.

3. People want to save time and energyRenovation means planning, demolition, dust and weeks without proper living comfort. A move-in ready apartment has a major advantage on the market.

   
   

💶 How to Set the Right Price When Selling

It’s crucial not to base your price solely on another apartment in the same building sold recently – if that unit was in significantly better condition. This is a common mistake that leads to overpriced listings and unnecessarily prolonged sales.

This is exactly where a professional valuation plays a key role.

✨ Final Recommendation

A correctly set, maximally achievable current market price is the key to successfully selling a panel apartment in Prague.

No seller wants to overprice their apartment and turn it into a “stale listing” — one that sits on the market for months and helps all other sellers in the area sell their properties faster. And the originally “most expensive” apartment often ends up selling for less than it could have — simply because the price wasn’t set correctly from the start.

If you’re considering selling a panel apartment in Prague and want an accurate valuation based on real data and experience from dozens of successful sales, I’ll be happy to help.

Jan Halík

Realit Estate Agent

📞 +420 603 377 791

✉️ jan.halik@re-max.cz

RE/MAX Atrium

Podolská 811/138

140 00 Praha 4 – Podolí