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Mini apartments in Prague – is there a demand for small apartments?

Mini apartments in Prague – is there a demand for small apartments?

Three harmonious areas (living room, kitchen and bedroom), comfort spaces, scarcity of multiple physical barriers. All these advantages are quite achievable for such a concept as «Mini apartments in Prague».

Mini apartments in Prague – 3 main advantages

A mini apartment in the center of Prague will allow you to get a wider, and what is very important – immediate access to the entire city infrastructure. A mini apartment in the center of Prague costs 180 thousand CZK per m2. To rent such an apartment out will cost about 15 thousand CZK month). The exclusive design of an apartment, the area of which does not exceed 20 m2 can be quite a justifiable decision of the owner. Also, it is the additional, quite obvious advantage in case that the apartment will be rented out. The fact is that apartments with good, especially with exclusive design have higher liquidity in the real estate market in terms of rental. The cost of utility payments for a mini apartment is usually proportional to its area. Our readers are aware that utility bills for an apartment in the Czech Republic are paid for a year in advance. At the end of the year, a recalculation is carried out. As a result, one can save about a third of paid funds, if to try hard – a half.

Mini apartments in Prague – where to buy?

Surprisingly, most of the mini apartments in Prague are offered for purchase in historic buildings in the center of Prague. Over the past five years, the reconstruction of historic buildings in Prague has been actively performed. The basement rooms of these buildings are well suited for commercial real estate. Starting from the first floor, construction works are being done to divide large apartments into small ones, up to 20 m2, often not more than 15 m2 Prague 1 and Prague 2 have several projects that are actively developing the idea of renovating old apartment buildings for mini-appartments. There will be 27 apartments in Prague’s housing stock, the smallest of them will have an area of 14 m2, and the largest one – 28 m2. These apartments are ideal for both personal living and investment in residential real estate in Prague. We are sure that the apartments in the historic center of Prague will be sold out very quickly, despite their cost, which is almost twice the average market in the secondary real estate market in more distant areas of Prague.

Mini apartment in Prague at a price of 200 thousand. CZK for 1 m2– and is there even more expensive?

There isn`t more expensive mini apartment in Prague than 342 thousand CZK for 1 m2 in real estate agency price lists, but is the “triple” price justifiable? At first glance, the “mammoth” price apartment is not different from the other studios on the first floors of one building in the district of Prague 1. The feature is that it is a two-level one. Due to high ceilings it was possible to place a sleeping place. Quite recently, the term “micro loft” appeared above the living room and kitchen. But the most probable reason for such a high cost is the fair “appetite” of the apartment owner. This mini apartment in Prague is located in the residence Nosticova 7 (Malá Strana).

A mini apartment in Prague – for a short term rental or for permanent residence?

Such apartments are more suitable for short-term rental for tourists which do not want to miss a minute to get to the very «heart» of Prague.

When cooperating with the world’s most popular Airbnb service, you can receive about 1.5 thousand CZK per day for the rental of such an apartment. Monthly net profit will be about 25 thousand CZK (which is also a subject to Airbnb commissions and all municipal taxes).

Will the real estate market move further to the side of the mini-apartments in Prague?

Most likely, the construction of houses with small apartments will continue in other parts of Prague. In the historic districts of Prague, namely Prague 1 and Prague 2, there may be a limited number of them. The houses, which are planned for reconstruction, are scattered throughout the district. New apartments can only appear due to the reconstruction of old buildings, the splitting up of large apartments for 3 or 4 small, up to 20 m2.

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