New housing prices are rising in Prague
Despite the expected decline in purchasing activity in the summer months, prices for new housing in the Czech capital rose by 12% per annum.
By the end of August 2016, the number of apartments for sale in new buildings in Prague amounted to 4,715 units, which represents a drop of 31.2%, writes 420on.cz, citing data from the latest DevelopIndex from Deloitte.
The average price of real estate reached €2,800 per square meter, which is 12% more than in the same period last year. The highest cost of new housing is registered in the Prague 2 district, where they ask for €5,150 per square meter. The most affordable offers are in the Prague 9 district. Here you will have to pay half as much per square meter – €2,170.
The majority of vacant offers, namely 60% of the total, are three-room and two-room apartments. One-room apartments and apartments with four or more rooms make up 20% of the properties each.
Small apartments are in the greatest demand among buyers in Prague today. Because of this, many developers have decided to redevelop and divide multi-room apartments into several separate apartments.
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