Prices for new Prague flats rise as offer tightens

The average price of new flats in Prague rose in March and April by 1.5 percent compared with the first two months of the year, according to a survey by consultants Deloitte. The survey said the shortage of new flats coming onto the market during the Spring was clear with around 1,400 fewer being offered than at the same period last year. That translates into a fall of around 22 percent. Many of the new flats being offered are part of projects already started with few new developments coming on stream, the report added. Prices are estimated to have climbed by 13 percent compared with the average in 2014.