Uncertainty rules the market. Last year, Developei sold the fewest apartments in Prague in 20 years
According to Ekospol, high prices and unaffordable mortgages and an uncertain economic situation caused the market for new apartments to explode. I haven’t been to a car for five years, as was the case, said Even Korec, editor-in-chief of Ekospol, who celebrated 30 years on the residential market last year.
Korec stated that, in addition to expensive mortgages, the re-introduction of written requirements for the mortgage adjuster since last spring has also had an impact. Because of these tough conditions set by the Czech National Bank, even people who would not have a problem with it soon will not be able to afford a mortgage. The impact on the residential market is stupidly obvious, said Korec.
The company Ekospol uvd, in 2021 developers sold a total of 6,450 new apartments. Only in the second quarter of the previous year, 2,350 apartments found a new owner, the most during the period of publication of Ekospol statistics, which was almost the same as for the entire year.
According to the survey, the average square meter of a new apartment at the end of the year was 147,050 crowns, which represents an increase of 14.5 percent. For an apartment of 55 square meters, the buyer will pay a million crowns more than two years later.
However, the health sector slowed down, compared to this quarter of 2022, the average price per square meter increased by one percent.
Korec estimates that the prices of new apartments on the crack market have reached their peak and will soon stagnate, with only a slight increase in percentage units. It should be emphasized that the prices from the end of the year may not reflect the reality, because many large developers have started to offer various bonuses for the new apartment, for example, an equipped kitchen and a voucher for a furnished apartment. These offers reduce the final price of a new apartment, although they are not officially announced as discounts, Korec pointed out.
List of affordable new apartments in Korec neek. Developers will not go below the costs for which they built the apartments. They would rather have a sale, not a sale, said Korec.