Vladimír Urbánek (Kurzy.cz)
Personal finance  |  October 18, 2012 10:16:42

EKOSPOL: Sales of new apartments in Prague are heading for a new peak

Sales of new apartments in Prague this past year on year increased slightly again and they are projected to overcome last year's highs. Stable demand enjoying city district Praha 9, a dramatic increase in sales for the third year report Prague 10 On the contrary, this year suffered a huge drop in Prague 5 These and other interesting findings follow recent reports leading Czech developer EKOSPOL to market for new apartments in Prague monitors for six years.

Prague experiencing the best year yet. It is already at the maximum demand?

In the first three quarters of this year in Prague in projects with 50 or more dwellings sold a total of 2,581 new flats. In the previous year compared to last year as a cosmetic increase of about 3.6%, compared with 2010, but it's about 32% more. This year is so in terms of sales again a little better than last year, and thus far the best since the onset of the recession. (See Chart 1)

A good numbers while helping mainly sales in the third quarter of this year. While maintaining the current pace of sales could this year in Prague had to sell again around 3500 new dwellings. But the question remains whether there is such a demand peak current of Prague, or even here there is room for further growth?

Eugene Korec, CEO EKOPSOL, believes so. "Last year, sales of new apartments stimulated primarily concerned about the increase in VAT, ie administrative intervention from above. But this year driven by demand special price offer in large development projects, which is clearly a market momentum. It started already record-breaking summer and yet it continues and autumn shopping fever.Personally, I think that the last result in this year's fall and the Prague market, the recent maximum in the range of 3500 - 3800 apartments sold, "says Korec.

New customer preferences: Prague 10 on the rise, decline Prague 5

When comparing sales by districts for the last three years watching noticeable rearrangement in the preferences of customers. Most dwellings are still sold in Prague 9, which is also the largest offer masterfully. A long-term stable sales also reported Prague 4

The big change but through demand for apartments in Prague 5 and in Prague 10 While sales of new apartments in Prague 5 declined markedly by 29%, contrary Prague 10 grew by 15%. Compared to 2010, sales grew in Prague 10 even by an incredible 141% (!). All this despite the fact that the number of currently available apartments in Prague 10 is compared to Prague 5 is about a third lower. (See Figures 2 and 3).

"The price level is all new projects. Prague 10, thanks to last year's and this year's offerings developers becomes the center of low-cost housing in the city, so there is also a logical move in the same direction on customer preferences. In no other area there offer hundreds of new apartments for the price 35-40 thousand per square meter including VAT, "says Eugene Korec.

Ing. Daniel Donoval
Director of Marketing sector, EKOSPOL


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