Apartments will be built less, interest in large apartments is increasing

Prague - The apartment market will change significantly in the next two years. On one hand, the number of newly started constructions will decrease, while on the other hand, people's interest will shift from small apartments to larger and more expensive housing. This was reported by today's Hospodářské noviny, citing analysts and representatives of development companies.
This trend is also confirmed by Wednesday's data from the Czech Statistical Office. The number of issued building permits in July dropped year-on-year by 4.7 percent to just under 12,000.
According to spokesperson Ondřej Šuch from Skanska CZ, interest in studio apartments and two-room apartments is gradually declining, while demand for three-room and larger apartments is growing. "In the coming years, interest in larger and more expensive housing will increase. Therefore, Skanska will also include a greater number of family houses in its offerings," added Šuch.
This trend was also confirmed by the sales director of Central Group, Miluše Netolická. "Due to client demand, we are connecting some small apartments into multi-room housing," she stated.
Apartment prices are not expected to change much next year. A price drop is not anticipated, as development companies often borrowed under specific conditions from banks for construction. Real estate agents believe that even apartments that are in demand should not increase in price due to strong competition in the market.