One of the tallest buildings in Prague will disappear. The broadcasting tower of the Central Telecommunications Building (Ústřední telekomunikační budova) in Prague's Žižkov district will be demolished in January 2023, including the adjacent buildings. The demolition work is being prepared by the developer Central Group, which owns the entire technology complex in Olšanská Street and is now preparing a residential project there. The current design of the 100-metre towers with apartments by architect Eva Jiřičná has not yet been approved by the city, writes E15.cz.

In the second quarter of this year, a total of 9,200 new apartments were sold in the six largest markets, 11.7% less than in the previous quarter and as much as 53% down on the same period in 2021. The drop in sales is mainly due to higher mortgage interest rates and tighter credit rating regulations. As shown in the JLL report which summarises the previous quarter, despite the reduced interest in purchasing flats in the market, housing prices continued to rise.

Strabag will build the first residential building of Speedwell’s mixed-use scheme Paltim in Timișoara and the company has been selected as the general contractor of the project. 

Considering how Prague and its population will grow in the next few years, developer Central Group is planning schools and kindergartens. In its Nová Ruzyně project, it plans to build housing for more than 6,600 people and incorporate kindergartens directly into residential buildings. The developer plans to start construction within two years, writes the daily E15.

Developer Crestyl wants to transform the centre of Brno near the main train station with the Dornych project, connecting the historic centre with the newly planned district. It is to create a freely accessible public space that will include six buildings with apartments, office and retail space and underground garages. The project, with a total investment of CZK 7 billion (€285 million), already has a zoning permit and expects to receive a building permit by mid-2023, the developer announced at a public presentation of the project.

Sales of homes on the Romanian market totaled 85,000 units in the first half of 2022, up 3.4% compared to the same period of last year, according to real estate consultancy SVN Romania. In the same interval, sales in Bucharest and Ilfov county rose by 16.6%. 

Property developer Alesonor has obtained a financing of €21 million from Banca Transilvania that will be used for the first phase of the Amber Forest project near Bucharest. The money will support the development of 294 green homes. 

Developer AFI Europe has announced the completion of the Tulipa residential project on a five-hectare brownfield site in Prague 3 Strašnice. This latest, fifth phase with an eight-storey apartment building cost the developer more than CZK 250 million and will be the only one dedicated exclusively to rental housing with 61 apartments.

The Dům Radost project in Prague 3 in Žižkov, where SIKO Group as the new owner plans six hundred rental apartments, is one step closer to realisation. The Ministry of Culture has stopped a review procedure that could have seriously complicated the project for the owners, writes Seznamzprávy.cz.

Residential property in the EU is getting more expensive again. Prices rose by 10.5% year-on-year in Q1. In the Czech Republic, the increase was the highest, at 24.7%, according to data published by Eurostat, the Czech News Agency reported.