Rental housing in Prague is about two times more expensive than in other parts of the Czech Republic, according to a new analysis by investment company Trigema which looked at rental costs in the Czech capital and beyond for the second quarter of this year.
While in Prague the average monthly rent for a 2+kk apartment climbed to 14,223 CZK at the end of the half-year, in the Moravian-Silesian region it was only 6,700 CZK.
“The housing market and rental housing are interconnected. If in a place that is attractive to residents, the price for new and older homes is higher, a similar situation will be seen in the cost of rental housing,” said Marcel Soural, Chairman of the Trigema Board of Directors.
On average, the price of a 1+kk flat in Prague was 11,294 CZK in the second quarter, for a 2+kk 14,223 CZK and, for a 3+kk, 18,134 CZK/month.
Rental housing in Q2 2017 (District, # of flats, avg. area in m2, avg. rent/m2)
The most expensive rental apartments are in the city center. In Prague 1, on average, apartments can be rented monthly for 41,611 CZK; in Prague 2 for 29,579 CZK.
“Even though prices for rental housing in Prague usually exceed 10,000 CZK, there are also [more affordable options]. However, the level of such prices often also corresponds proportionally to the size and quality of the housing provided,” said Soural.
The cheapest monthly rent in Prague was a one-room studio apartment in Prague 10 for 4,200 CZK per month; one of the most expensive flats in Prague 2 saw an asking price of 130,000 CZK.
As for rents outside of the capital city, in the South Moravian region, the cost of rental housing averaged 11,916 CZK; in Central Bohemia 9,875 CZK per month. The average rent in the Pilsen region is 9,762 CZK/month.
The lowest price for monthly rent was recorded in Aš in the Karlovy Vary region where the advertised amount for a studio was 1,500 CZK. A garsonka in Ostrava was offered for 1,800 CZK.
Data was compiled using publicly available information from multiple real-estate servers on the Czech market.