Sales continued to soar on the Prague residential market over the summer, according to Central Group. The residential developer sold more than 100 units in July and the first half of August, a jump of 58 percent y-o-y. Sales growth for the period was even faster than H1 figures. Central Group’s head, Dušan Kunovský, says this is due to fears that mortgage rates will soon bottom out. “Some banks already announced that they will start to moderately increase their mortgage rates,” he says. The average rate was 1.87 percent in June, according to Hypoindex. Central Group guarantees a 1.69-percent rate to its clients for three to seven years.
