Developers sold 753 newly built flats in Prague in the first quarter of 2012, according to a new report by the developer Ekospol, indicating the market has returned to “normal “ levels, following an increase triggered by the VAT shift. “The volume of sales around 750 flats per quarter meets natural demand for new homes in Prague (3,000 new units annually),” says Evžen Korec, director of Ekospol. The pace of sales is similar to what it was in the first two quarters of last year. Ekospol foresees annual sales for 2012 at about 3100-3300 new flats in Prague.
