Development of real estate prices in Prague (Vensim)

In progress

Name: Development of real estate prices in Prague

Author: Petr Netolický, netp02, 19.1.2021

Used tool: Vensim PLE 8.2.0

Problem definition

Every year, the price of real estate in Prague increases rapidly. As a result, young families can no longer afford to buy an apartment in the center of Prague, including a mortgage, and have to move to more educated villages and towns around Prague. The purpose of this simulation is to show trends and development of prices for flats, houses, and other real estates in Prague for next ten years based on real historical data available on the Czech. The aspectes which are taken into count are the influence of the covid crisis, Airbnb, mortgage rates, prerequisite for obtaining a mortgage, average salaries in Prague, trends in society, number of „singles“.

Method

The Vensim tool is used to simulate the problem. In this tool, it is possible to simulate the development of real estate in Prague over the next ten years.

Model

Results