The number of speculators with flats has doubled, and rental housing is reviving
Fewer and fewer private individuals in Prague can afford to buy an apartment, which is why rental housing is currently coming to life. And while five years ago there were about thirteen percent of all buyers who bought apartments to keep renting them, today there are about thirty percent.
“There are not enough people who could buy an apartment. At the same time, however, there is plenty of liquid investors on the market, ”explains Tomáš Pardubický, CEO of the developer Finep. “If we compare the second quarter of 2016 and 2017, we will find that the demand for housing will increase by 29 percent,” Pardubický continues.
His words are also confirmed by a competing CPI developer. “Increased demand for rental housing is evident throughout the Czech Republic, the trend is more pronounced in Prague. Compared to the past, when rental housing remained in the shadow of owner-occupied housing, this view is changing and people are beginning to appreciate especially the flexibility associated with renting, ”says Michaela Winklerová from CPI.
According to data from Finep, which includes the Maxima real estate agency, which is also in line with their interests in the capital, they are also growing. For example, the price for renting a 2 + kk apartment in a new building in Prague’s Podolí increased in the first half of this year compared to the last six months last year to approximately 23.5 thousand crowns, ie by 14.6 percent.