Developers strengthening their shift towards rental apartment projects

Residential developers are becoming increasingly clear about their goals for the construction of rental flats in Prague. AFI Europe, which is among the biggest developers of the city has completely changed its strategy and by next year, won't be offering any new flats for sale. "We've decided to focus entirely on the construction rental flats that will be attractive for clients at the same time and will produce long-term stable income," says AFI Europe director Doron Klein in Hospodářské noviny. The company has set itself the goal of building 1,000 of these units in Prague. Others are following suit, including FINEP, which will aim to produce 50 percent rental flats within five to ten years. The company built over 650 flats in Prague last year. HN reports that YIT Stavo is planning to rent out 20 percent of its residential production.