Flood of new residents drives Prague’s housing crisis

Prague's housing crisis

Robert McLean

#cee, #proptech, #development a #architecture

When it comes to understanding Prague’s runaway residential prices, a local urban myth keeps getting in the way: that 10,000 people are moving into the city each year. It sounds impressive, but it’s not even close. Because in actual fact, around 40,000 people arrive in Prague every year, while another 30,000 leave. Martin Červinka of the Prague Development Company says it’s this constant churn of people that helps explain the insatiable demand for real estate here. It seems safe to assume that if 40,000 newcomers managed to secure . . .

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