In the first quarter of this year, Prague sold the most new flats since 2021, with a total of 1,466 new flats, a quarter-on-quarter increase in demand of seven percent and a year-on-year increase of 85 percent. This is according to an analysis by start-up BuiltMind, which tracks sales data on developers’ websites and which is available. Developer Central Group sold the most new apartments, followed by Finep. YIT and Ekospol also did well in sales. The number of available new flats in the first quarter was 5,800, up 3 percent quarter-on-quarter.
In terms of public sales recorded on project websites, Central Group sold 225 apartments in the first quarter. This was followed by Finep with 112 public sales and YIT was a close second with 110 sales. Ekospol sold 106 new apartments. However, Vivus, Metrostav Development, Skanska Residential and Penta Real Estate also sold less than 100 apartments in the first quarter.
In the first quarter of 2024, similarly to the same period in 2023, the Prague real estate market was dominated by the Tesla Hloubětín residential district project by Central Group, which sold 87 apartments, i.e. roughly six percent of the entire sales market. The Ekocity Hostivař project by Ekospol also achieved high numbers with 82 sales. This was followed by Vivus Kolbenova II and Byty na Vackově by Metrostav, both with 50 sales. New flats were also sold in the Rezidence Blízká project by Horizon Holding, Vivus golf resort, Penta Nuselský pivovar or Vesi Hostivař by YIT.
In the first quarter of the year, a number of larger and smaller residential projects were added to the market, according to BuiltMind CEO Martin Decky. According to him, brownfield redevelopments into residential complexes continued to be an important factor in the housing market. “Construction continues at a fast pace, for example in Barrandov, where several new projects have been added by various developers, or in Hostivař, where Ekospol has started construction of a new neighbourhood. However, significant projects have also been added to the market in other parts of Prague, such as SIJA Kamýk by YIT or Rezidence Blízká by Horizon Holding,” added Decký.
According to the analysis, the average offer price did not change significantly. Compared to 2023, however, there were far fewer discount promotions such as subsidised mortgages, although these remained in projects that introduced them earlier. According to the analysis of the development companies Central Group, Skanska and Trigema, the average selling price of new flats in the first quarter was CZK 142,073 per square metre. In their analysis, the developers recorded sales of 1,600 new Prague flats in the first quarter.
Startup BuiltMind analyses property sales through its own software, which tracks sales data on developers’ websites. These are units downloaded from public price lists or marked as sold, in 318 different projects in Prague.
Source: CTK
