Developers sold a record 1,850 new apartments in Prague this year

Prague - The market for new apartments in Prague continues to grow, with developers selling a record 1,850 units in the first quarter of this year, which is a third (37%) more than last year. This is based on joint statistics from the companies Ekospol, Skanska Reality, and Trigema, which ČTK has access to. An additional 6,600 new apartments are ready for sale by developers.
    The previous most successful quarter was the last three months of last year, when development companies in the capital sold a total of 1,700 new apartments. "The results clearly indicate one conclusion - people want their own housing. They are doing well, they are optimistic about their future, and they are not afraid to go into debt to buy an apartment. This is great news for us developers but also a challenge to prepare for new projects," stated Evžen Korec, CEO and Chairman of the Board of Ekospol.
    Growing sales are aided by record-low mortgage interest rates, the improving economic situation in the country, and lower yields from other types of savings and investments. According to developers, the number of those buying new apartments as an investment to rent them out is also increasing.
    This trend is long-term. According to joint statistics from Ekospol, Trigema, and Skanska Reality, people bought 5,950 new apartments in Prague last year, which is an 18.6 percent increase year-on-year. Developers expect high demand for new apartments in the capital this year as well. At the beginning of the year, they had 6,750 available new apartments in their offerings.

Sales of new apartments in Prague by quarters:

Quarter	Sold apartments
Q1 2011	781
Q2 2011	723
Q3 2011	988
Q4 2011	963
Q1 2012	753
Q2 2012	847
Q3 2012	981
Q4 2012	1433
Q1 2013	1214
Q2 2013	1155
Q3 2013	1095
Q4 2013	1551
Q1 2014	1350
Q2 2014	1500
Q3 2014	1400
Q4 2014	1700
Q1 2015	1850