Foreign buyers are continuing to make up a large percentage of the buyers for new luxury developments in Prague.
Residential developer V Invest CZ registered an increasing demand for young families desiring three- and four-room apartments, with the most sought after size apartment remaining at two rooms. The company sold a third of its Vila Park Jinonice project with 74 apartments in Prague 5 to foreign clients, mostly British, Dutch, Russian, French and Greek, who work in the Czech capital. Nearly half of the foreign buyers work in Prague and live in these apartments, with the other half buying the properties and then leasing them. Apartment prices in Vila Park Jinonice start at Kč 40,000 per square meter. Last year, some 35,000 foreigners moved to Prague, according to the Czech Statistical Office (ČSÚ).
