Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  9.4.2013 15:21:21

Quarterly analysis of Prague's residential market - Great Expectations


Residence in Prague - Great Expectations

Analytical Department Trigema continues detail monitoring the market for new apartments in Prague. In the following, we present the basic indicators for the first quarter of 2013. For more detailed information, then we bringing gradually in the coming weeks.

What's in the Prague market

At the end of the first quarter of 2013 in Prague 284 "live" housing projects, ie those that offer at least one free apartment. Of those, 93 projects are on the menu are less than 5 bytes, and therefore there is a reasonable prospect that it will be able in a relatively short time sell out.

On the other hand, there are 9 projects that are completed, but gives them left more than 50 available apartments.

Total includes all of our projects recorded 13,327 apartments, of which 6593 are available. This time last year there was the 6988th The supply of available apartments is therefore about 6% lower.

Development companies with available apartments is currently in Prague 159 (from the end of last year, the number has decreased 20), but only 88 of them have already been sold this year, at least one apartment.

There is an increasing proportion of smaller projects, 48% of projects have less than 50 bytes. The data come from four hundred projects that have gone through our database for the past two years, therefore it also includes projects completed and sold.

Chart 1 Distribution of projects according to the number of planned housing

Sales thrive

For the first 12 weeks of this year, has sold 1,315 new dwellings. For the same period last year it was 728 bytes, we have an increase of a remarkable 80 percent! Sales are so still riding on a wave that started in the last quarter of last year. A combination of low housing prices and low mortgage rates significantly expanded range of potential clients.

The following chart shows the number of apartments sold in a week last year and this year. While last year in Prague, sold an average of 61 dwellings per week, this year it is 109 bytes.

Positive note is the fact that all applicants for housing still aspire to the quality that thrives sales and other projects than those from bottom price.

 

Figure 2 Sales of apartments for weeks - compared 2012 2013

The flip side of the coin are lagers. By coming to market hundreds of new low-cost housing, of course, decreases the marketability of apartments that were completed several years ago with very different costs.

Finished registering the available apartments on offer in 2572, of which 1269 is waiting for your buyers for more than a year and 765 more than two years. It should be noted that these figures for the first quarter also declined (at the end of 2012, we reported values ??from 2771 to 1436 - 791). At least a small part of lagers was able to sell, no doubt at a loss. Other routes but in this case.

In this context it should be noted that, according to our findings will be completed in 2013, 1548 new dwellings. And also the fact that 59% of apartments sold this year is not yet complete.

 

Where most flats offered and sold?

Sequence of neighborhoods according to the number of available apartments in the menu is dominated by Liben, are traditionally high Stodůlky, Zizkov and Letňany.

 

Tab. First Ranking neighborhoods by the number of available apartments

5pt; HEIGHT: 15pt; BORDER-TOP: # 000000; BORDER-RIGHT: # 000000; PADDING-TOP: 0in; mso-border-bottom-alt: solid windowtext .5 pt "width = 65 nowrap>

398

5pt; HEIGHT: 15pt; BORDER-TOP: # 000000; BORDER-RIGHT: # 000000; PADDING-TOP: 0in; mso-border-top-alt: solid windowtext .5 pt; mso-border-bottom-alt: solid windowtext. 5pt "width = 32 nowrap>

3

5pt; HEIGHT: 15pt; BORDER-TOP: # 000000; BORDER-RIGHT: # 000000; padding-top: 0cm; mso-border-top-alt: solid windowtext .5 pt; mso-border-bottom-alt: solid windowtext. 5pt "width = 65 nowrap>

Letňany

5pt; mso-border-bottom-alt: solid windowtext .5 pt "width = 65 nowrap>

242

5pt; HEIGHT: 15pt; BORDER-TOP: # 000000; BORDER-RIGHT: # 000000; padding-top: 0cm; mso-border-top-alt: solid windowtext .5 pt; mso-border-bottom-alt: solid windowtext. 5pt "width = 32 nowrap>

7

5pt; HEIGHT: 15pt; BORDER-TOP: # 000000; BORDER-RIGHT: # 000000; PADDING-TOP: 0in; mso-border-top-alt: solid windowtext .5 pt; mso-border-bottom-alt: solid windowtext. 5pt "width = 65 nowrap>

Holešovice

5pt; mso-border-bottom-alt: solid windowtext .5 pt "width = 65 nowrap>

169

1

Liben

2

Stodůlky

270

Zizkov

246

4

245

5

Hlubocepy

6

Smíchov

218

Hloubětín

174

8

174

9

Zličín

10

Hostivař

158

 

Forehead sequence of neighborhoods by the number of apartments sold recalls the song name Grandpa George Vysočany, Liben. Both of these neighborhoods were established in the first two places, while last year's valedictorian leading directly placed him in the peloton.

 

Tab. Second Ranking neighborhoods by the number of apartments sold

5pt; HEIGHT: 15pt; BORDER-TOP: # 000000; BORDER-RIGHT: # 000000; PADDING-TOP: 0in; mso-border-top-alt: solid windowtext .5 pt; mso-border-bottom-alt: solid windowtext. 5pt "width = 128 nowrap>

Liben

5pt; mso-border-bottom-alt: solid windowtext .5 pt "width = 65 nowrap>

66

5pt; HEIGHT: 15pt; BORDER-TOP: # 000000; BORDER-RIGHT: # 000000; PADDING-TOP: 0in; mso-border-top-alt: solid windowtext .5 pt; mso-border-bottom-alt: solid windowtext. 5pt "width = 65 nowrap>

5

5pt; HEIGHT: 15pt; BORDER-TOP: # 000000; BORDER-RIGHT: # 000000; padding-top: 0cm; mso-border-top-alt: solid windowtext .5 pt; mso-border-bottom-alt: solid windowtext. 5pt "nowrap width = 128>

Upper Měcholupy

5pt; mso-border-bottom-alt: solid windowtext .5 pt "width = 65 nowrap>

60

5pt; HEIGHT: 15pt; BORDER-TOP: # 000000; BORDER-RIGHT: # 000000; padding-top: 0cm; mso-border-top-alt: solid windowtext .5 pt; mso-border-bottom-alt: solid windowtext. 5pt "width = 65 nowrap>

9

1

Vysočany

89

2

68

3

Stodůlky

4

Záběhlice

62

Čakovice

60

6

60

7

Hostivař

8

Uhříněves

59

Letoany

51

10

Hlubočepy

50

Conclusion

After a long time we observe a significant improvement in Prague's residential market. The combination of low interest rates on mortgages, sober pricing policy developers and stop the constant changes in VAT rates by the state of the housing market shows. Register any negative news from the market that the trend of the previous first quarter of 2013 not repeated in the following quarter.

Marcel Soural, Chairman and Chief Executive Officer
in cooperation with the analytical department as Trigema

Více zpráv k tématu Bank of england

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