19th January 2018

Prague.tv/Deloitte: Foreigners bought 8 percent of new flats in the Czech capital Prague

In the third quarter of 2017, foreigners bought 8 percent of new apartments in development projects in Prague. Most often the foreign buyers were Russians, Prague.tv says. 

Just under a third of the development project flats were sold in Prague 10, followed by Prague 5 with a share of 30 percent and Prague 9, which was roughly at one-tenth, according to a survey by consultancy Deloitte.

“Of all residential segments, foreigners most often buy apartments in development projects, which shows the current high foreign demand for modern and new housing in Prague. [The city] is currently perceived as a safe place with a historic center and a high standard of living,” Deloitte real estate analyst Petr Hána said in a press release.

In the Q3 2017, some 5,348 dwellings were sold in Prague, of which approximately 80 percent were standard transactions according to Deloitte. The rest came from privatization, the transfer of a cooperative apartment to personal ownership or family sales. 

Development projects made up of half of the standard sales, followed by older brick houses at 22 percent, panel houses at 20 percent and family houses at 8 percent.

Read full article by Prague.tv based on Deloitte data.

Members of the American Chamber of Commerce in the Czech Republic