Rent of old apartments is falling in the Czech Republic

Over the past six months, the average price of apartments on the secondary market in Prague has decreased by 2.2%, to 8.5 million crowns. At the same time, their supply on the market has already fallen by 14%. Prices for new housing have remained almost unchanged – the average price is CZK 9.7 million. Elite and most comfortable housing rose in price during the specified period by 1.9%, to 202,430 crowns per square meter. Rates in the rental market are following the demand caused by the lack of homeownership, and it seems that new buildings here will also continue to rise in price. The difference in rental prices is due to the condition of the facilities or the availability of vacant premises. For example, the average rent in Prague 8 increased by 11% in six months, while in Prague 3 it fell by 5.3%.

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