Rental Prices in Czech Republic’s Major Cities

Czech Point 101 December 8, 2014 @ 1:29PM

One of Czech Republic’s major real estate companies, spoke about their findings in the Czech rental market as reported by New Europe, an online magazine with European news. 


The director of reportedly said that overall, rental prices have decreased or been stagnant due to Czech being increasingly able to purchase their own property. However, he stated that cheap and smaller apartments overall saw a year-over-year increase of 2.6%. He reported Brno to be holding steady in terms of rental prices and increases only in the Ostrava region (10 to 20%) and in the Usti nad Labem region (up to 20%) but only in the case of smaller apartments. (Read the whole article at New Europe.) 


Our experience over the last year in Prague and Brno backs up these statements and we would agree that Prague has experienced no growth or even a decrease in terms of rents achievable. With prices still increasing there it has had the affect of pushing down the yields, making it less attractive for investors. 


In Brno, there is no question that the smaller apartments (up to 1 bedroom) have seen a rental price increase over the last year. Most of the demand is coming from international hires of companies like IBM and Infosys as well as the huge student population. 


On one smaller property (1 + 1, 36 m2) that we listed for rent recently (for 7500 CZK/month) we had over 25 phone calls over the first three days after it was listed. Any property for rent under 10 000 CZK/month seems to rent incredibly fast. 


In Ostrava we haven’t had the experience to say what the market has done over the last year but currently the demand seems strong also on the smaller apartments. In our opinion, this may be the best investment area for buy-to-let in Czech Republic right now.

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