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However, the drop had no impact on the company’s turnover, which exceeded CZK 1.2 billion. Developers are forced to hike prices also due to a rise in prices of construction works. “We did not expect the growth to be so dramatic,” says Vladimír Dvořák, YIT Stavo Executive Manager. Its parent company YIT has recently fused with Finnish construction company Lemminkäinen. Both companies have combined staff of 10,000 and will use the YIT brand name. Mr Dvořák is optimistic about the year 2018, saying that demand is likely to remain at the previous year’s level and prices are likely to stagnate. YIT Stavo plans to offer 500 flats in Prague this year, most of them located in Hloubětín and Košíře. - Ihned.cz -