According to the monitored data and analysis of the real estate market by BuiltMind, the demand for new apartments in Prague has continued to grow in Q2 2024. Compared to Q2 2023, there is an increase of more than 67%.
The number of available units rose above 6,300 in Q2 2024. Compared to the first quarter of 2024, this is an increase of more than 8%, bringing the supply level to 6,323 available units. The demand for new apartments continued to grow to 1,877 units sold. This is the highest figure since the second quarter of 2021. Quarter-on-quarter demand rose by more than 28%.
In terms of public sales recorded on the projects' websites, Central Group was once again the most successful company in Q2 2024 with 294 units. EKOSPOL followed with 143 public sales. Developers FINEP and Metrostav also did well with more than 100 public sales. The Byty nad Krocínkou III project also achieved high numbers with 78 public sales.
In the second quarter of 2024, as in the last two quarters, the Prague real estate market was dominated by the Tesla Hloubětín Residential District project, with a market share of approximately 6% and 104 units sold.
"The most important projects that came to the market this quarter include Nový Rohan by JTRE CZ, but also several others, for example, Harmonia by Gaudi, Rezidence Basilejské náměstí from Central Group or Rezidence Laurová from Satpo," says Martin Decký, CEO at BuiltMind.
"The future of the new construction market in Prague will primarily be marked by the continuation of the conversion of brownfields into residential districts, as is already the case today in Vysočany or Žižkov. However, further significant development awaits Karlín as well, especially thanks to the complex transformation of Rohanský Island or the new plans of Central Group for the construction of a new district near the Invalidovna metro station," added Martin Decký.
BuiltMind analyses real estate sales through software that tracks sales data on developer websites. These are units withdrawn from public price lists or marked as sold, in more than 370 various residential projects in Prague. The data is automated and verified by the largest developers.
