Developers expect Prague’s residential market growth to continue

Developers expect the growth of Prague’s residential market to continue this year, according to an analysis by the CEEC Research agency. The offer of new residential real estate in the capital is expected to increase by 7.4 percent in 2014 while demand should grow by 3.6 percent, the head of the research agency said. However, the consultancy KPMG said the survey reflects the developers’ optimistic expectations; while not unrealistic, the analysis reflects a situation when a combination of low interest rates and an expected general economic recovery create favourable conditions for residential development.