Vladimír Urbánek (Kurzy.cz)
Personal finance  |  July 11, 2012 09:53:57

EKOSPOL: New homes are still selling better than last year. For the first half of 1600 indicated a Prague developers


A total of 1,600 new apartments in projects with 50 or more dwellings developers Prague sold in the first half of this year. In the first quarter of this year's sales amounted to 753 new apartments, in the second quarter sales rose to 847 flats sold, a quarter by about 12.5% ??more. This follows from the analysis of the Prague residential market in the second quarter, released today by leading Czech development company EKOSPOL.

"New apartments in the first half of this year's selling better than the same period last year. Then in Prague sold a total of 1,504 new apartments, "explains Eugene Korec, CEO and Chairman of the Board and EKOSPOL

In the comparison of sales by quarters we find that a total of 847 flats sold in the second quarter represents the best result for the last four years, unless we count one-step increase in sales at the end of last year due to the VAT increase. "This proves that the market for new flats in Prague after big bust that went through at the turn of 2008 and 2009, for four years continuously without overheating and growing, "said Korec.

(See Chart 1)

Last year, repeat not, a jump this year will not increase sales

In Korca but higher sales in the first half do not mean that throughout this year to sell more apartments than last year. "Last year, sales of new buildings greatly helped the planned VAT increase, which was announced in advance and each of them counted. Thanks to increased sales jumps in the third and fourth quarters. This year we expect second half sales growth, but due to the VAT increase by only one percentage point increase will not be as strong as last year, "said Eugene Korec.

According to forecasts by analysts EKOSPOL as expressed at the end of last year, this year the new buildings in Prague had to sell about 3100 - 3300 new dwellings. "For the first half figures confirm that sales are likely to move rather at the upper limit is around 3300 sold new buildings per year. In terms of demand, so we again expect a very good year, "says Eugene Korec.

(See Chart 2)





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EKOSPOL: Nové byty se zatím prodávají lépe než vloni. Za první pololetí jich pražští developeři udali 1600

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