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Prague Residential Market H2 2017

New Construction:
During 2017, a total of 4,748 apartments commenced construction in Prague. Annually, this represents a decrease of 22% on new construction.

The number of completed apartments reached 6,176 units, registering a decline of 5% y-o-y.

The trend of decreasing sales continued in the second half of 2017. The number of sold apartments reached 5,258 units for the entire year which is 29% below the record sales of 2016.

Price Levels:
The average price for new development projects increased to 73,586 CZK per sqm (net price excluding VAT). Compared to the same period last year, the average price rose by 15%.

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