Seven developers control half of the residential market in Prague
Central Group holds a share of 18.2% of the residential development market in Prague. The company sold 246 apartments in Q1 2017, i.e. 2.5x more than the no. 2 developer Finep (92 units). Seven companies hold half of the residential development market in Prague. The top three developers (Central Group, Finep and Skanska Reality) hold a total share of 30%. This stems from joint analyses by Trigema, Skanska Reality and Central Group. All in all, developers offered 3,450 apartments as of the end of the quarter-year, with 1,350 apartments sold in the three months. Central Group’s Chairman of the Board of Directors Dušan Kunovský says that the lack of offered apartments is beginning to affect the chart. He adds that the length of building proceedings was prolonged to ten years.