Prague development market in May and June 2016
The development market entered the months under review with what had already been a long-term decrease in the supply of available apartments and steadily high demand. The market developments in May and June 2016 further exacerbated the decrease in supply - from 3.6% in March and April 2016 to 8.7%. The annual deficit of apartments on the market had become quite perceptible: 2,102 available apartments, which represents almost a 38% decline in supply compared to the same period in 2015. Compared to the two previous months, demand increased to 105% and compared to the same period in 2015, it was at approximately 116%. The number of projects placed on the market during the two months by development companies comprised 1,002 apartments (only 730 apartments - ie 73% - have been placed on the market so far), which is 38% less than in 2015 as well as in 2014.