The Czech Republic ranks the second place of rental growth in the whole EU


Over the past 12 years, Czech rental prices have been growing 4 times faster, than the European Union average. According to Eurostat, from 2007 to the third quarter of 2019, the average rental price in the Czech Republic increased by about 80 percent.

   In the entire European Union rent grew faster only in Lithuania. During this year rents in the Czech Republic also showed a 5 percent growth. It is worth noting, that in the Czech Republic the share of housing, occupied by owners, is rather higher, compared with the whole EU countries’ average. Nevertheless, the demand for rent far exceeds its supply, as most young families do not have their own housing.

   The main reason of such a condition is the fact, that in the Czech Republic the process of obtaining a building permit takes too long time, compared to the other countries. Thus, the number of actual housing under construction is simply not enough to cover the population's demand for it. According to the World Bank, the Czech Republic ranks just 157th place out of 190 countries in terms of the time of obtaining a building permit.For comparison, neighboring Poland ranks 39th and small Denmark is on the fourth place.

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