04/11/2022
At the end of 1H 2022, there were approximately 14,400 flats under construction in Prague, roughly 4,000 more y/y. About 17% more flats were completed (2260). Another 4,200 units are expected to be completed by the end of the year, marking the strongest supply of new apartments since 2017. However, high interest rates, tighter mortgage conditions, and record prices have led to a decline in sales. Some 1,900 flats were sold in 1H, down by half. Apartments in new buildings became more expensive by 18%. However, compared to 2H 2021, the price in new buildings increased by 1% to an average of CZK 124,887 per m2 excluding VAT.
