Prague real estate market tendencies in 2019

Nowadays the rapidly growing world real estate market affects investors, entrepreneurs and people looking for housing in the Czech Republic`s capital substantially.

First of all, one should evaluate the expectations of real estate leaders all over Europe. They mostly stay optimistical thinking of the business intentions in 2019, notwithstanding their assurance is slightly decreasing in comparison with 2017-2018, because possible economic changes may cause unpredictable situations. The concern cannot be excluded.

Furthermore, in the current year, specialists had had enough time to notice the increase in demand for startups and industry-specific technology. This is acknowledged to be one of the most extensive alterations changing the method people interested in real estate do business and their living.

Generally, the majority of analytics has accepted the fact: those days, when one successfully bought real estate, decided to hold his purchase for more than 15 years and did absolutely nothing to obtain something from it, are long gone.

Returning to the issue of Prague real estate market one should emphasize that although consideration is switching to modest and dynamic towns which can also be titled risking stars, the power and intensity of concernment in the Prague residential property market has in these latter days risen to the next level.

A variety of factors influenced this, for example, membership in European Union, stable sustained growth within the Czech middle class, the total Czech economy in comparison with a lot of other countries, general deficiency of high-grade housing supply applicable to the inquiry, low-interest rates and the ever-growing presence of mortgage financing.

One should also admit that the cost for new apartments in Czech`s capital is proceeding to increase. The circumstances are not supposed to alter shortly. Speaking about the average price of a new flat in Prague, last year it rose 18.6 per

cent to more than CZK 100,050 per square meter. Interest in living in Prague continues to rise, and a lot of customers have to compromise on size and location to detect something they may afford easily. At one time, the need was primarily for houses with adorable gardens. Now people are striving for apartments, and developers are differently appending more apartment buildings to suburban projects they have.