Prague dormitories are still more advantageous than apartments, accommodation prices start at around two thousand a month Business
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Part of the 130,000 students who attend some of the universities in Prague must solve a fundamental problem – housing – before they can sit on the benches. You can choose either student dormitories or rent an apartment. If those who prefer accommodation in the dormitory have not yet secured their “bed”, they will just pick up the last vacancies. However, those who prefer privacy in a rented apartment can be at ease. In Prague, there is almost three times as many apartments for rent on the market compared to last year, and in addition, rents have become significantly cheaper.
Even so, no massive flight from the tracks takes place. Places on university dormitories are on sale again this year.
The interest is huge
“As every year, the interest is huge and currently the dormitories for next year are fully occupied,” says Petr Podzimek from the Department of Broader Relations of Charles University. He adds that the coronavirus epidemic did not have a negative effect on interest in dormitory accommodation. Even at the University of Economics, Czech students who want to live in dormitories have not decreased. But there are fewer foreign ones. “For those who have reservations, we certainly do not know if they will be able to arrive in the end,” said Martina Mlynářová, a spokeswoman for the University of Economics, Prague.
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CU students have a choice of accommodation in single to quadruple rooms. The school charges for a single room with a bathroom, which costs 6000 crowns, in a quadruple room without a bathroom you can stay for a little over 2000 crowns a month. CTU offers its students accommodation in eight places in Prague. Prices are as in the UK. They start at almost 2600 crowns, a single room with toilet and shower costs about 4,500 crowns. The University of Economics, Prague, which has a capacity of approximately 3,600 beds in Prague, charges monthly from approximately 3,000 to almost 6,400 crowns.
Dormitories, although rents in Prague must fall year on year, are still a more cost-effective alternative. With the current average rent per square meter of 325 crowns, a 2 + kk apartment with an area of 50 square meters will cost 16,250 crowns. If two students shared the costs, each of them would pay over 8,000 crowns, which is approximately 2,000 more than what the places on the dormitories cost. However, the residents of the dormitories must prepare for the fact that in the cheapest rooms they will share the sanitary facilities with the entire floor.
Anyone willing to pay extra and rent an apartment can benefit from the market situation, which is fundamentally affected by the coronavirus pandemic. Significantly fewer tourists are heading to Prague, and apartment owners who previously rented them via short-term accommodation platforms are now willing to rent them in the long term.
More affordable rentals
Those interested in renting smaller apartments have much greater opportunities than was common in previous years, “says Jan Štěp, director of Dalten media, which operates the Realitymix.cz portal. The Bezrealitky.cz server states that today the offer of flats in Prague is almost three times higher than last year. Even so, according to brokers, most apartments in Prague are intended for rent events within a week.
According to statistics from the real estate portal Realitymix, the prices of rented apartments in Prague have fallen by more than eight percent in the last year. In Prague 1, where most flats were intended for short-term rentals, rents even fell by almost a fifth, while rents in Prague 2 fell by more than a tenth.
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But even this reduction will not mean a massive drop in students on campus. “From our point of view, this is not such a major reduction that it could affect the more massive transfer of students from dormitories to rent,” says Blanka Vačkova, head of market research at Jones Lang LaSalle, an international consulting firm. “In addition, it can be expected that as the economic situation worsens, more students and their families will consider whether they can afford to pay more than the cost of college,” he said.
Thanks to the greater choice on the market, students do not have to hurry to rent an apartment. And that’s how they behave. “Last year, we recorded the start of student requests on August 4, this year the deadline was postponed by 20 days and so far will be divided into two separate peaks. Housing is now beginning to be sought by the most conscientious students, the more lazy ones usually start searching soon before the start of the semester, when it will be clear in which fashion the universities will operate, “says Hendrik Meyer, CEO of Bezrealitky.cz. Students still operate with the variant that schools do not have to open in the normal mode, teaching will be overcome at a distance and it will be unnecessary for them to rent housing near the university.
Like last year and this year, there is the greatest interest in three types of real estate so far. Flats around 70 square meters, which consist of more students, separate rooms or micro-apartments, ie units up to 25 square meters. Although they will be rented, they recorded the biggest jump in demand. “Medium dozens of student flats and similar, rent a slightly higher number of them will appear in the offer every day. The selection is bigger better than a year ago, “added Hendrik Meyer.