Prague has record 157,000 housing units under construction

In Prague, around 157,000 apartments are currently under construction, which is 8,000 more than in the first half of last year. This marks the highest number to date. The planned new housing projects are expected to be built mainly in Prague 4, 5, and 9—districts with the largest development areas and brownfields. In contrast, space for new construction in the city centre is limited. This follows from data provided by the largest Czech residential developer, Central Group, presented at today’s press conference.

Despite the high number of planned apartments, delays in permitting mean they are not being delivered to the market in time, according to Central Group CEO Dušan Kunovský. As a result, supply still does not meet demand, which leads to rising prices and worsening housing affordability. Faster development could be supported by Prague’s approved spatial plan and the proposed amendment to the building law currently under discussion.