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The average cost of renting an apartment in Prague

The average cost of renting an apartment in Prague

For the two-year period the cost of renting an apartment in Prague has increased from 300 CZK to 350 CZK per sq. m. with no account for utility payments. To this amount, you can surely add about 20% of the cost of utility payments.

This year is expected to show further increase of the cost of renting an apartment in Prague. As you know, tenants are more willing to rent apartments in the primary market, ideally – apartments with primary final repairs. The cost of renting such apartments, as a rule, goes beyond the average amount of 350 CZK per sq.m. The pricing situation can be only improved after more than 10 thousand apartments a year are built on the Czech real estate market. But while the reality is far from the expectations, all developers together managed to build about 3 thousand new apartments in 2018. Read more about the cost of apartments in Prague in 2019 here.

The previous year, about 6 thousand apartments were available for rental. About a third of them were offered for rent in the districts of Prague 5 and Prague 2, much less  in Prague 7 and Prague 8. In the districts of Prague 9 and Prague 10 the number of apartments that were rented did not change, despite the dynamic development of these Prague districts.

The average cost of renting an apartment directly depends on the area of ​​the apartment, with the exception of residential real estate in close proximity to the center of Prague (the principle of “comfort” rather than the “affordability of rent” is in operation here).

The average apartment area for rent in Prague is about 70 sq.m., of which about 45-50 sq.m is a living one.

Apartment 2+kk for rent in Prague is «one-size-fits-all.”

Apartment 2+kk – 50% of apartments for rent in Prague. (there are about 3 thousand). There are a total of about 500 offers for renting 2+1 apartments (the kitchen is a separate room). Then follow apartments 1+kk or studio apartments (30% or 1000 apartments) and no more than 10% – apartments 3 + kk (400-500 apartments)

Concerning apartments 4+kk (not more than 200 apartments) and further: such apartments are being rented very rarely. Mostly they are rented by European companies for their employees. In order to get a good profit from renting an apartment, you must first examine the infrastructure of the area, prepare a plan for renting an apartment.

In percentage terms, the increase in the cost of renting an apartment in Prague was 17% from 2017 to the present (the beginning of 2019).

Special attention should be paid to the location of the apartment, namely: walking proximity to the metro not only increases the chances of quickly renting an apartment, but also allows to get a large profit from the rent.

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