Czech Republic ranks as one of the most expensive countries to buy homes, and rents are steadily rising
The average price for buying a house/apartment in the Czech Republic decreased in the second quarter of this year for the first time since winter of 2019. In contrast, rents have increased. This is according to the EHS Group’s quarterly analysis of the housing market using data from Bezrealitka and Maxima Reality real estate services. The author of this report also announced that prices to buy property will continue to fall and that supply is changing dramatically, with new properties being sold.
In Prague, the average price to buy an apartment fell by 3 percent, while in the Central Bohemia region it fell by 6 percent, but the other regions of Czech Republic saw the biggest drop: Zlín (21 percent), Vysočina (18 percent), and Ústí nad Labem (14 percent).
Despite prices falling to buy homes, the demand for rentals has increased and consequently the prices did as well. Mainly due to the high number of Ukrainian refugees looking for accommodation and rising interest rates on loans.
Based on Česká spořitelna analysis data and the European data portal, you can see how Czech Republic is one of the most expensive countries to buy house, in proportion to wages. That is why most of those who want to buy a house, prefer to buy an old apartment/house and renovate it.
Sources: https://czechdaily.cz/ ; https://www.expats.cz/
Source of images: https://www.myadvo.in/ ; https://storyset.com/
