Rent prices continue to rise in Prague
In the first quarter of this year, rent prices reached record highs. The average rent is now 348 Czech crowns per square meter per month. At the same time, the lowest offer on the market in the last eight years was recorded.
Analysts believe that the reason for the rise in prices is not only the small number of apartments in the capital. This year's increase in the price of mortgages, together with the tightening of the conditions for their issuance, also has an impact. This has forced some potential buyers to opt for renting. The Russian invasion of Ukraine, which has caused a significant wave of emigration to the Czech Republic, is also behind the increase in demand and rental prices.
According to brokerage agency Remax, more than half of apartments for rent are rented within 14 days of an offer being posted. Analysts at Remax believe that rental prices will continue to increase.
The number of vacancies reached a record low during the first quarter of 2022 - the average for the first three months of this year was 5,183 vacancies.
Property remains a very attractive investment and attracts investors in particular with a great opportunity to protect savings from inflation and earn an attractive yield.
