Rental prices in the Czech Republic rose significantly last year, with initial estimates indicating an average increase of 17 percent per square metre. Prague continues to dominate as the most expensive location for rentals, while the Ústí nad Labem region offers the lowest prices.
In the Czech capital, rental flats are particularly sought after and costly. According to estate agents, the average rental price in Prague is currently CZK 412 per square metre. For example, in the Barrandov district, a 54-square-metre flat with a living room, bedroom, kitchenette, and countryside views is listed at CZK 22,000 per month, excluding utilities.
High-priced properties further inflate the average. A flat in a tower block in Pankrác, for instance, rents for CZK 100,000. Even smaller units are pricey: an eight-square-metre space in a courtyard in the Braník suburb costs CZK 10,000 monthly without utilities.
In regions like South Moravia and Central Bohemia, prices exceed CZK 300 per square metre, with location remaining a key factor.
Property experts point out that many landlords are increasing rents to offset higher mortgage costs. This trend coincides with growing demand for rental housing. “The Czech market is increasingly resembling Western Europe, where a much larger proportion of the population lives in rental flats,” explained František Brož, spokesperson for Bezrealitky.cz, to the news channel ČT24.
Detached houses are also gaining attention in the rental market, with more owners opting to rent out parts of their properties to generate additional income.
The outlook for property purchases is similarly challenging. Last year, the Czech Republic ranked last in Europe for housing affordability, measured by the ratio of wages to the cost of a new home. On average, buying a new property in the Czech Republic costs the equivalent of 13.3 gross annual salaries. Prague, in particular, is the second least affordable European metropolis after Amsterdam.
