In its most recent residential study for Prague, Skanska reports that developers sold 1,023 new flats in the city in the first quarter of 2012, which it says is a 15 percent drop y-o-y from 1,192 flats in Q1 2011. However, of the total, just 43 percent (445 flats) were sold after completion, indicating that clients are still open to buying off plan. Four of the biggest players — Central Group, Skanska, Finep and Ekospol sold 333 units, or 33 percent of the total. Average sale prices remains flat: while it was CZK 57,403/sqm by the end of last year (including VAT), the current average price is CZK 57,347/sqm. Of the 8,214 units currently on offer, 2,719 have been completed, a 16 percent drop compared to 3,240 at the end of 2011. Skanska’s numbers differ quite significantly from results already published by another developer, Ekospol, which recorded just 753 flats as being sold in the first quarter. The average price in that report was CZK 55,214/sqm. While Skanska claims to include all projects in its statistics, Ekospol is interested only in projects with over 50 units.
