Market and investment

Market value of a property (tržní cena)

In Czech: Tržní cena nemovitosti

Market value (tržní cena) is the amount a property would most likely sell for at a given time and place, between a buyer and a seller acting freely and without pressure.

Also called: market price, fair market value, tržní cena, tržní hodnota, obvyklá cena

What it means

Market value, in Czech tržní cena nemovitosti, is an estimate of what an ordinary buyer would pay for a specific flat, house or plot at a given moment if the sale happened under normal conditions: no time pressure, no family ties between the parties and a reasonable period on the market. Czech valuation reports often use the related term obvyklá cena (usual price).

It is not the same as the asking price (nabídková cena) in an advert or the appraised value (odhadní cena) a bank orders. The asking price is the seller's wish, the purchase price is the result of negotiation, and market value is a professional estimate of where that negotiation would most likely end.

How it works in the Czech Republic

Market value is usually estimated by an estate agent (realitní makléř), a valuer (odhadce) or a court-appointed expert (soudní znalec). The core method is comparison: they look for similar properties nearby that sold recently or are on offer, then adjust for size, condition, floor, lift, energy rating, parking and ownership type. For rented properties, the income the property brings in is considered too.

Legal issues also lower the value. An easement (věcné břemeno), a lien (zástavní právo), enforcement proceedings (exekuce) or a tenant with a long lease narrow the pool of buyers. Before you talk about price, look at the title deed (list vlastnictví) in the free online land register viewer Nahlížení do katastru nemovitostí.

Market value changes over time, so any figure is a snapshot. Comparing the price per m² of similar listings on Lovec-Realit.cz gives a quick orientation, but asking prices show what sellers hope for rather than what properties finally sell for.

Practical example

For example, a seller asks CZK 5,900,000 for a 2+kk flat. Similar flats in the same street are listed at CZK 5,300,000 to 5,700,000, but their buildings have a lift and a recent energy certificate (PENB), while this flat is on the top floor of a building without a lift. The buyer's agent therefore puts the market value lower, for instance around CZK 5,200,000, and uses that in negotiation. The amounts are purely illustrative.

What to watch out for

  • Do not confuse the asking price in an advert with the price a property actually sells for.
  • An agent who wants your listing may overstate the value; ask for the specific comparable properties behind the estimate.
  • Check the title deed for easements or liens before negotiating the price.
  • Compare only properties with the same ownership type; a flat in personal ownership (osobní vlastnictví) and a cooperative flat are priced differently.

Frequently asked questions

What is the difference between market value and appraised value?

Market value estimates what the property would fetch on the open market. Appraised value is set by a valuer for a specific purpose, most often for a bank when you take a mortgage, and it can differ from market value.

Who can determine the market value of a property?

An estate agent can give a rough estimate and a valuer a professional one. If you need a report for an authority or a court, for example in an inheritance or a property settlement, people usually turn to a court-appointed expert.

Is market value binding for the sale?

No. The buyer and seller agree the purchase price freely; market value is only a basis for decisions and negotiation.

  • Appraised value (odhadní cena)Appraised value (odhadní cena) is the value a valuer or court expert sets for a property for a specific purpose, most often for a bank granting a mortgage. It can differ from both the purchase price and market value.
  • Price per square metre (cena za m²)Price per square metre (cena za m²) is a property's asking or sale price divided by its area. It helps compare flats of different sizes, but only if the same type of area is used for each listing.
  • Purchase price (kupní cena)The purchase price (kupní cena) is the amount the buyer pays the seller for a property, as agreed in the purchase agreement. The price in a listing is only an offer; what counts is the figure in the contract and what it includes.
  • Property valuation (odhad nemovitosti)A property valuation (odhad nemovitosti) is an assessment of a flat, house or plot that a bank relies on when deciding on a mortgage. It is used to set the collateral value and thus how much the bank will lend.
  • Title deed (list vlastnictví)A title deed (list vlastnictví, LV) is the land register sheet that shows, for one cadastral area, who owns which properties and what burdens them, such as mortgages, easements or a pending change of ownership.

This text is for information only and has not yet been checked by a legal or financial expert. It is not legal, tax or financial advice. Verify important details in the listed sources or with a professional.

Updated 25 October 2026

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