The rise in property prices in the Czech Republic surprises not only buyers, but also market analysts, a lot of which believe that the cost of one square meter of housing in the primary real estate market does not justify the average price of 90 thousand CZK (~ 3,500 euro). The cost of renting an apartment directly depends on the cost of the apartment itself. The apartment for a student in Prague is a previous year’s article that will allow you to compare prices for apartment and student dormitory rental in 2017 and 2018.
How should an ideal apartment for a student in Prague look like?
Perhaps we start with the fact that the best apartment for a student is the one for the rent of which he, or most likely his parents, can pay for. Usually, the key advantage is the location of the apartment for a student in Prague. The capital of the Czech Republic is a quite «compact» city, it has the oval shape, so you can get to any area of Prague by spending no more than 60-80 minutes. Therefore, if you need to choose between the comfort of living and a certain distance to an educational establishment, feel free to choose the second one. In our recommendations to the tenant, we’d like to mention that furnished apartments with household appliances are of great demand, especially among students.
Apartment for a student in Prague – why is the rental price higher by 20 percent or more?
Most likely, these are realtor agencies which traditionally increase the cost of renting apartments for students in Prague. There`s the only way out: start looking for suitable apartment 2-3 month before the study year begins. The ideal time will be July and August, because the study year in Czech universities begins in October.
Another reason: as a rule, the academic year in higher education institutions lasts 9-10 months. As a result there`s competition among students and young families who are used to rent apartments all year round. Most lessors of apartments increase the cost of rent, as a compensation for the fact that in the summer period they suffer losses or are forced to look for a tenant for a short or medium term.
As a rule, the lessor provides household and other appliances at the disposal of the tenant. Young people pay “Kauce (returnable cash deposit)”, but under the terms of the apartment rental «Kauce» does not include the depreciation cost of equipment, as well as its normal wear. The tenant is obliged to compensate losses only if the fact of damage of material values is proved. Based on the aforementioned, some lessors either refuse to rent students, or increase the cost of rent in order to compensate for additional investments or even repairs.
Other reasons for refusing students to rent an apartment in Prague:
- new apartment – «to save it new» as long as possible.
- not willing to receive comments from neighbors due to “noisy” students.
- high costs of property management (one of the most common services of realtors) when an apartment owner lives in another city or in another country.
Apartment for a student in Prague – which apartment to choose?
Since the beginning of the automotive era, there exists a rule – the larger the car is, the more expensive it is. The situation with apartments in Prague is identical, but with some other peculiarities. The cost of an apartment in Prague depends on the area and location. An important factor in the cost of apartments in Prague is the transport infrastructure (this is not only about being close to the metro, but also about the convenience of using other types of transport). What is better, 2+kk apartment, where 2-3 students live and pay the total rent of 20 thousand CZK or apartment 4 + 1, in which 6-8 students live with monthly rent of 4000 CZK each? The question is interesting not only due to the fact that in the second variant the cost of rent is 20% lower, but the fact that in this segment (the layout of rooms with a separate kitchen) students do not directly compete with young families, but apartments with a separate kitchen are being less and less built every year.
Until the student graduates from the university (5-6 years), parents will have to pay about 400 thousand CZK (~ 15,500 euros) for the rental. The average cost 7 thousand CZK for renting an apartment in Prague per person), the same cost of rental in the “premium class” dormitory. any real estate agencies have a very lively discussion on the Internet on the topic of renting apartments. Brief essence of such discussions: the apartment rental is not an investment, while buying an apartment (including a mortgage) a 1+kk apartment in Prague for a student is an excellent investment into real estate, the reliable financial instrument.
According to statistics, about 60% of all nonresident students in Prague choose dormitories. A few years ago, after the concept of “premium housing for students” was introduced in Prague, more and more dormitories were constructed. Is it really so and students have already tried this type of housing? Yes, they have. Dorms with private facilities (kitchen, toilet, shower). The dorms are rather small, but equipped according to the new standards, with appliances and all the necessary furniture. The cost of living in such dormitories is from 7 000 CZK, but the demand is several times higher than the supply.
We do hope that the goal set to inform the reader about renting apartment for a student in Prague has been achieved by us, and now it`s your turn to make your child’s accomodation and study comfortable.