As of the end of Q2, renting an apartment in Prague will now cost you more than CZK 400 per sqm not just in the 1st district, but in Prague 2 and Prague 3. That’s a big change from a year ago, when the average monthly charge all over town was in the 300’s. A new report by Deloitte found that city-wide, the average rose 9% to CZK 373/sqm/month. Interestingly, just 0.3% of that growth came in the second quarter of this year. Deloitte bases its study on data provided by Datinteligence. Hospodářské noviny points out that the biggest year-on-year jump in rent took place in Prague 3, where rents stood at CZK 357 a year ago, but now stand at CZK 410. But Prague 2 is going much the same direction, at nearly the same speed, jumping from CZK 368 to CZK 420 in just a year. In Brno, the average rents rose 7% y-o-y to CZK 317.
None of this is particularly shocking, of course, given the rapid rise in residential prices nationwide. “For many people, owning their home is either unattainable, or they simply don’t want to,” Petr Hána of Deloitte told HN. “And if there’s more interest in rental flats, then it’s logical that the rental prices will increase.”
What does seem significant, though, that compared to Prague’s 0.3% rise from Q1 to Q2, Central Bohemian rents went up 3.1% and up 3.5% in the Liberec region. In fact, Prague’s q-o-q was slower than most other regions (not including Brno, where they fell 0.3%). That said, HN warns that a great deal depends on how the data is collected. It quotes figures from the Sreality agency that show Prague rents rising 2.5% since June and 8% in Brno.
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