Not Enough Flats? Only in Prague, 33,500 Have Been Sold in Six Years

Since 2015, a total of 33,500 new flats have been sold in Prague. The greatest interest has been in Prague 9, which accounts for 21.5 per cent of the total sales, followed by Prague 5 (20 percent) and Prague 10 (18.2 percent). The most popular apartments sold are 2+kk (two rooms with a kitchenette).

The study was published by the development company Central Group.

“This year, the share of Prague 10 is less than 13 percent, but its importance will certainly grow again in the future. According to our latest analysis, there are almost 15,000 apartments under construction. When they reach the market, sales will rise again,” says Michaela Tomášková, Director of Central Group.

In 2015, the highest number of flats were sold in Prague 10 (28 percent). At that time, there were several large projects on the market, such as the Maple Quarter in Horní Měcholupy, which withdrew demand from other parts of the capital at advantageous prices.

Prague 5 is becoming increasingly popular. 24 percent of all apartments sold in 2020 are located here, compared to 15 percent in 2015. According to the Central Group, new residential projects also contributed to this growth, namely the Zličín Metropolis, Jižní Výhledy and Nad Prokopským údolím.

The highest demand is for 2+kk flats, which have accounted for almost 40 percent of sales in the last almost six years. In second place, people most often buy 3+kk flats (25 percent), but the interest has been declining in recent years.

“Smaller flats, especially 2+kk, are widely used by an ever-increasing group of singles and also by young families. These dispositions are also an ideal investment opportunity, especially at a time when protection against inflation and the issue of security for the future is very relevant,” explained Tomášková.

Central Group is one of the largest housing developers in the Czech Republic. Every seventh apartment sold in Prague in the last five years comes from this company.