Flat Rental rates continue their upward trajectory, driven by several factors. In urban areas with colleges, high demand from students seeking accommodation is pushing prices higher, particularly in the lead-up to the academic year. Additionally, more individuals are turning to renting as exorbitant property prices and costly mortgages have temporarily dashed their dreams of homeownership.
For those contemplating a move, the prospect involves a protracted search and the need to amass a substantial deposit running into tens of thousands of currency units.
Petra Slavíčková, a marketing professional, shared her frustrating experience hunting for a rental apartment in Prague: “Owners rarely respond to my inquiries, and when they do, they mention receiving numerous responses and securing leases within days of listing.” She expressed her willingness to provide employment contracts and bank statements to potential landlords and emphasized her need for a larger three-bedroom apartment, as she aspires to start a family. Despite her efforts, she recounted how an owner swiftly rented the apartment to a friend.
High security deposits are also a common hurdle, typically averaging around CZK 50,000.
According to an analysis by Bezrealitky.cz, rental rates in Prague have stabilized at an average of CZK 340 per square meter per month, whereas in the Central Bohemian Region, they have surged to CZK 248, primarily for older flats. Furnished apartments in excellent condition, especially smaller units in sought-after neighborhoods, command prices ranging from CZK 500 to 550 per square meter.
Experts foresee an impending surge in student demand, which is likely to exert further upward pressure on rental prices, not just in Prague and Brno but also in Plzeň, Olomouc, and Hradec Králové.
Hendrik Meyer, head of Bezrealitky.cz, commented, “September stands out as one of the peak months for rental demand, and we anticipate a substantial increase in prices for new lease agreements following the holiday season.”
To manage costs, groups are finding it advantageous to rent larger apartments. Bezrealitky.cz reports an 11 percent increase in apartment prices in Prague compared to the end of the previous holiday season, with Brno experiencing a seven percent rise, Ostrava eight percent, and Olomouc five percent.
Students, in particular, are inclined toward shared housing, given that individual, smaller apartments are often financially out of reach. Larger apartments accommodating four to eight people offer a practical solution in terms of space, affordability, and availability.
For instance, two university students sharing a 65-square-meter apartment in Prague’s city center would pay over CZK 13,500 each, including fees—roughly CZK 1,200 more than the previous year. In a four-person setup, the cost per person would be approximately CZK 7,600, an increase of about CZK 570. In a group of six, the expense would average around CZK 6,400.
Due to the high costs in Prague, the Central Bohemia rental market is also seeing a resurgence. In suburban towns served by railway lines outside Prague, rental rates are considerably lower, with two people paying CZK 9,800, four individuals paying CZK 5,600, and six occupants paying less than CZK 5,000.
In Brno, two students can expect to pay roughly CZK 10,900 per person, while couples in Hradec Králové and Olomouc must allocate between CZK 8,000 and 9,000 per person each month to secure housing near the city center.
Source: novinky.cz
