Pardubicky: Prague flat prices will double again
The price of apartments in Prague is set to double in the next ten years, according to the director of one of the largest residential developers in the city. "I don't believe in price ceilings," said Tomáš Pardubický, who leads the developer Finep, who told the daily Idnes.cz he thought that community living arrangements would turn out to be a popular, inexpensive residential format. He blames the state for much of the rise in prices that consumers have had to endure up until recently. But Pardubicky says that corporate demand for rental apartments will drive up prices in the coming years. Asked why he thought the next decade would see a doubling of prices, he said it was simply statistics. "The reason is people moving to the bigger cities in search of work, which in the Czech Republic means primarily to Prague."