New apartment sales growth in Prague: new price record.
According to data published in the latest report, the Prague real estate market has seen a significant increase in new apartment sales, followed by a rapid rise in prices. The number of new apartment sales has reached record levels and the rate of price growth has accelerated.
Over the past year, the number of new apartments sold in Prague has increased by 20% compared to the previous period, reaching a historic high. Experts attribute such dynamics to high demand from locals and foreign investors seeking to invest in reliable assets.
In parallel with the growth of sales volumes, there is a significant increase in prices for new buildings in the Czech capital. Over the same period, the average cost per square meter increased by 15%, exceeding the mark of 3 thousand euros. According to analysts, the main factors that influenced the acceleration of price growth were the shortage of supply in the market, high inflation rates and the continuing low interest rate on mortgage loans.
According to experts' forecasts, in the short term, the trend of increasing sales volumes and prices for new apartments in Prague will continue. However, the continuing economic uncertainty as well as a possible tightening of monetary policy in the future may have a restraining effect on the real estate market of the Czech capital.
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