Flat deficit in Prague could hit 100,000 by 2030

Flat deficit in Prague could hit 100,000 by 2030

Published at: 2019-05-14 09:01 | Author: CIJEurope.com
If Prague is unable to start issuing permits for the rapid construction of flats, the housing crisis will worsen drastically, according to the Association for Architecture and Development (SAR). It warns that by 2030, the city could have a deficit of 100,000 flats for 200,000 people. "In Prague, there are 96,000 flats being prepared of which, two-thirds of them are in brown fields," said Central Group's boss Dušan Kunovský. "But because of the long permitting process, the projects can't make it to the market and that's the basic reason for the rise in the price of flats." SAR writes that the city needs to complete 6,000 few flats per year, but this number has fallen to just 3,000 per year since 2010.

Similar Stories:

CNB: Czech resi market still overpriced
The governor of the Czech National Bank decided to leave mortgage restrictions in place on  »
Eva Jiřična's daring design to replace Prague 3's gloomy 'Mordor'
Eva Jiřična emerged as the winner of an architectural competition by Central Group for a  »
Third phase of Ecocity Malešice tops out
The shell and core of the residential scheme Ecocity Malešice by JRD has been completed,  »
Residential price inflation slowing in Czech cities
Prices of flats rose 6.5 percent in Prague and in the regional cities in 2018, which is th  »
Construction has begun on Bispevika, a brownfield project along Oslo’s waterfront that   »
PSN has sold 350,000 sqm of land to the dominant Czech residential developer Central Group   »
Investors from China, Russia and other countries are leading a growing influx of foreign f   »
Czech Republic  ♦  Round Hill plots European growth
The buildings are located in Helsinki and in regional towns near the south of the country.   »