According to the Czech statistical office, in Prague is reducing the volume of construction of new housing. For the period from January to June of this year, has began the construction of only 522 apartments, which is 5 times less than a year ago.
Apartments being built in Prague now, will be ready no earlier than 2018 or 2019. Dusan Kuhn, owner of Central Group claims that from the day of receiving the necessary permits and until the final delivery of the house in Prague is around 8 years.
If last year on the market appeared about 7,000 new apartments, now they are 4650. The number of projects dropped to 246 (38%).
Most popular are cheap small apartments. The demand is much higher than supply. Each such new apartment has 9 applicants. In case of unforeseen circumstances developers immediately turn to other candidates in the queue.
The low volume of construction and the availability of mortgages have resulted in higher housing prices. In June new construction prices rose by 18.7% yoy.
Based on the materials of radio.cz
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