How long does Praguer earn on a new apartment? On average, almost 15 years
In a regional comparison, Prague is followed by Bratislava (12.5 years), Munich (12.3 years), Berlin (8.7 years), Vienna (8.3 years) and Warsaw (8.2 years). “Housing affordability is declining in all neighboring countries and their metropolises. But Prague is leading the rankings with a big difference and is still widening its gap. , Warsaw or Berlin, which can set an example for us, “said the owner of Central Group Dušan Kunovský.
According to Central Group’s analysis, the authorities have allowed 3.3 flats per 1,000 inhabitants in Prague over the last five years. Of the selected cities in the region, it was significantly the least. This is followed by Berlin (6.4 flats), Bratislava (6.9 flats), Munich (7.9 flats), Vienna (9.3 flats) and Warsaw (12 flats).
“Apartment prices in Prague have been growing significantly faster than wages for a long time. While wages have increased by 32 since the end of 2014, apartment prices have risen by 97 percent over the same period. in 2014, it was enough for an apartment with an area of 70 square meters, today Pražan will buy only about half an apartment, “added Kunovský.
Low bid
The price of an average apartment with an area of 70 square meters increased by 8.5 percent to 8.51 million crowns. The Central Group’s average wage is based on data from the Ministry of Labor and Social Affairs on wages and salaries by occupation. According to them, at the end of March the average gross monthly wage in Prague was 47,657 crowns. This is 3.7 percent more than a year ago.
According to experts, one of the main reasons for high prices is low supply. Experts mention rising prices for land, construction work and materials, high tax burdens or unnecessarily strict technical regulations as other reasons for rising prices.