Reporting by Hospodářské noviny suggest that Prague residential developers began offering significant discounts over the summer. It writes that while the average price of a new unit edged over the CZK 100,000 per square meter marker in September, they’ve risen just 1 percent since March. Developers were in a hurry to sell off their more expensive units before stricter mortgage rules went into effect in October, but sales fell 20 percent year-on-year in the 3rd quarter to just 570 units. HN cites František Brož of the price monitoring website cenovamapa.org as saying that for the first time, there were more discounts offered than price increases. He claims that Prague developers lost out on CZK 133 million in profits thanks to the price cuts.
