The present-day district of Jáchymov known as Nové Město was most likely originally an integral part of the town. Development near Freudenstein Castle began no later than the 16th century, as shown by the oldest preserved map of Jáchymov from 1556, where Neustadt is already depicted. According to some sources, additional buildings near the castle appeared during the 17th century.

The first written record of Nové Město as a separately listed village dates from 1654. Johann Gottfried Sommer, in his 1847 work Das Königreich Böhmen, notes that Freudenstein Castle lies in the middle of the town, with the older part consisting of the church and other important buildings, while the other part is the Neustadt, which was heavily damaged by Swedish troops during the Thirty Years’ War. This indicates that Nové Město had existed earlier as a natural extension of the urban settlement.

In the 20th century, the area’s development changed significantly. When the Jáchymov region became a restricted zone due to uranium mining, recreational facilities were built near Nové Město for leading representatives of the communist regime and selected industrial enterprises. After the area was gradually opened, these facilities began to serve general recreation and tourism as well.

Today, approximately 118 addresses are registered in Nové Město, and according to the latest census about 49 permanent residents live here. The locality is effectively divided into two parts: the lower part with historic buildings connected to the original town, and the upper part formed by former accommodation blocks for uranium mine workers, most of which have since been converted into holiday facilities, guesthouses or hotels.