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DEVELOPMENT OF THE REAL ESTATE MARKET IN PRAGUE

DEVELOPMENT OF THE REAL ESTATE MARKET IN PRAGUE. David Dušek, Real Estate Appraisal Section. Praha , 27 January 2011. Table of Contents. Flat market in Prague Office market in Prague. Flat prices development. Zdroj: UCB CZ. Development in the number of flats sold in Prague. + 11%. -43%.

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DEVELOPMENT OF THE REAL ESTATE MARKET IN PRAGUE

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  1. DEVELOPMENT OF THE REAL ESTATE MARKET IN PRAGUE David Dušek, Real Estate Appraisal Section Praha, 27 January 2011

  2. Table of Contents • Flat market in Prague • Office market in Prague

  3. Flat prices development Zdroj: UCB CZ

  4. Development in the number of flats sold in Prague + 11% -43% +39% 2008 - 3409 flats, 2009 - 1941 flats, 2010 – 2691 flats,   Estimation 2011 – 3,000 sold flats, i.e. an increase by 11% Zdroj: Trigema

  5. Current situation on the Prague market • Totally 21,749 flats have been planned • Currently (at 10.1.2011) 10,649 flats are offered • vacant flats up to now - 7,098 (67 %), • Of which 2,722 flats have been completed (1,205 flats were built more than one year ago). In 2011, about 3,000 flats are expected to be sold = supply exceeds the demand almost three times . . Zdroj: Trigema

  6. Housing projects and city districts Zdroj: Trigema

  7. Numbers of flats and the age of vacant flats Numbers of flats by the average project price Zdroj: Trigema

  8. Development of building work prices Zdroj: ČSÚ

  9. Demographic development Zdroj: ČSÚ

  10. Outlook 2010 - 2012 • Work will be halted on a considerable part of large projects being prepared • Speculative developer companies will disappear and the market will be cleaned • New projects will be rather of an intimate character underlining the locality and/or price + sporadic attempts at the more extensive construction • A lower price level of building work and materials together with the supply and demand interaction will reflect in a lower price of newly offered flats. • Dependence on both the economic and demographic development

  11. Office rooms Zdroj: IRG IRG Market Research | Operative Committee Meeting | 17.11.2010 IRG Market Research | Operative Committee Meeting | 17.11.2010

  12. Office rooms Mega-Cities > 1.000.000 Inhabitants < 1.000.000 Inhabitants Zdroj: IRG IRG Market Research | Operative Committee Meeting | 17.11.2010 IRG Market Research | Operative Committee Meeting | 17.11.2010

  13. Office rooms Zdroj: CBRE IRG Market Research | Operative Committee Meeting | 17.11.2010 IRG Market Research | Operative Committee Meeting | 17.11.2010

  14. Office rooms Rents Euro/m²/Month Vacancy Rate/Yields in % Zdroj: IRG IRG Market Research | Operative Committee Meeting | 17.11.2010 IRG Market Research | Operative Committee Meeting | 17.11.2010

  15. Office rooms Zdroj: IRG IRG Market Research | Operative Committee Meeting | 17.11.2010

  16. Office rooms Zdroj: IRG IRG Market Research | Operative Committee Meeting | 17.11.2010 IRG Market Research | Operative Committee Meeting | 17.11.2010

  17. Office rooms Zdroj: IRG IRG Market Research | Operative Committee Meeting | 17.11.2010 IRG Market Research | Operative Committee Meeting | 17.11.2010

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