Buying buildings and apartments in Prague: how it was and how it will be?

People in the Czech Republic have more accessible and safe proceeds that are able to influence the retail sector positively, while their wages are rising faster than inflation. The main purpose of visiting, living and investing in Prague is that despite the extension of the downtown, the countryside of the country contains a lot of resplendent conservation areas and national parks.

Here it’s impossible not to enjoy the property, its location and neighbor buildings to buy in Prague among flourishing nature and astounding historical background. That is why it’s rather obvious that the Czech Republic offers perfect circumstances for purchasing buildings from a variety of areas of the real estate market.

One should emphasize that new buildings are set up unhurriedly. Although the amount of started formations are falling off, the high inquiry keeps. Almost 8 thousand blocks were under constructing in Prague in the 2017 year. It’s indispensable to pay attention to that this result can be accepted as the lowest one since 2014. The cumulative amount of realizations achieved is 5,987 flats which are five percent below 2017 levels.

Experts are of the opinion that 2019 is unlikely to offer up a large alteration, sooner the opposite. However, this year, the building of around 3,946 new apartments will be started off, the lowest figure since 2009. About 4,900 flats will be finished, scoring an essential drop in comparison with 2018.

What is more, the value of new apartments and buildings in developer’s projects has one more time enlarged. For instance, more than a third of approachable flats were suggested in the price range of 66,000 to 87,000 CZK per sqm. The second largest segment on sale represented flats ranging from CZK 56,000 to 66,000 thousand per square meter.