In Prague, suitable plots of land for residential construction are decreasing

Prague - The availability of suitable land for residential construction in Prague is decreasing. However, interest from developers in parcels suitable for apartment building is growing, and they are also acquiring problematic plots. Problematic plots are those with uncertain classification in the zoning plan, those pending a building permit application, or those already having a building permit.
    Prague is almost fully sold out in terms of land, and attention is starting to shift, according to Mexx Reality, outside of it. Prices on the outskirts of Prague can in rare cases start at a thousand crowns, but generally they range between two to three thousand crowns per square meter. The situation is completely different in the broader center of Prague, where plots with developed projects can cost tens of thousands per square meter.
    "Projects are now commonly sold at any stage of preparation," said the director of the development department, Marek Makový. He added that the most expensive plots are those awaiting building permits. In these projects, last modifications can be made according to the new owner's vision.
    Conversely, the cheapest option is land without zoning decisions. "Currently, due to the still strong demand for apartments, plots without status in the zoning plan are also selling well. In these cases, the developer expects high costs for the necessary administrative permits, but this is offset by the lower price of the land," added Makový.
    According to Petr Procházka from the real estate company, prices for land suitable for new construction have increased by about five percent year-on-year. The greatest interest is in plots suitable for the construction of new houses. In the surroundings of Prague, these are primarily the locations of Nebušice and Průhonice. Újezd, Říčany, Úvaly, and Stará Boleslav also remain popular.