The number of flats sold in Prague during Q4 2012 increased by 38 percent y-o-y, according to Skanska Reality. Developers sold 1,612 apartment during the fourth quarter of last year, while only 1,076 units were sold during Q4 2011. According to Skanska, an increase of new supply on the outskirts of Prague helped push up sales. Competition between Central Group and Ekospol drove asking prices down in Prague 10, where one-third of the take-up took place.
“We believe the trend of selling flats at prices that just cover costs is not sustainable in the long-term,” said Skanska’s sales and marketing director, Naděžda Ptáčková. Developers had a total of 7,183 units on offer in Prague at the end of last year, a 12 percent decrease y-o-y. Meanwhile 687 units were added to the market, with 115 of them considered to be highly energy-efficient. The average asking price was CZK 48,050/sqm. Prague 10 recorded 500 sales, followed by Prague 9, where 358 units were sold.
