Study: Rents in Prague for 2 + kk flats fell by 4.2% in Q3
Updates: 17.10.2021 07:10
Released: 17.10.2021, 07:10
Prague – Long-term rent without energy in Prague for the most requested layout of 2 + KK in the third quarter fell by 4.2 percent year on year to 14,900 crowns per month. Compared to the end of June, it was 6.4 percent higher. Of the other five Czech capitals, it fell year on year in Ostrava (by ten percent) and Pilsen (by 3.5 percent). It stagnated in Brno and Olomouc, and increased by 10.5 percent in Liberec. Fill it in from the data of the company UlovDomov.cz, which is available to ČTK.
“The turning point came during the summer, now the shift is more visible. It is logical, because property owners are finally given space to increase their rental profits. This seasonal stay is supported by the return of students to university towns and can therefore distort the overall trend, rather gradual, “said Martin Březina, Director of UlovDomov.cz. As mentioned below, it is now not possible to observe a uniform trend in the whole of the Czech Republic, which is due to different dynamics and different input factors of individual cities.
At the end of the third quarter, rents in 1 + KK flats in the capital fell by five percent year-on-year to CZK 10,950 per month, while in the case of 3-bedroom apartments it fell by 2.3 percent to CZK 21,500. Compared to the second quarter, rents for the 1 + KK layout increased by 4.3 percent, and for 3 + KK flats they increased by 7.5 percent.
“These values mainly concern flats in good condition and in desired locations, for example near the metro or near university faculties. On the contrary, in the case of panel units or flats on the outskirts of the city, the market reality may be different,” Březina added.
In Brno, monthly rents for all categories stagnated year-on-year. For the most requested flats 2 + KK at the level of 14,000 crowns, for flats 1 + KK for 10,000 crowns and in the case of 3 + KK for 18,000 crowns.
Rents for the most sought-after disposition from the six largest cities in the Czech Republic also fell in Ostrava, by ten percent year-on-year to 9,000 crowns a month, and in Pilsen by 3.5 percent to 11,100 crowns. In Olomouc it stagnated at 12,000 crowns, in Liberec it increased by 10.5 percent to 10,500 crowns.
“One of the indicators of market dynamics is the volume of advertising, ie the purchase of vacant flats. Our data we see that the supply of flats in the capital fell by about a quarter quarter on quarter, which logically complements the gradual rise in rental prices. “1 + kk and 2 + kk flats, which have long had a major share in the total volume of the offer, are also gradually declining,” added Březina.
Average monthly rental price in the third quarter and year-on-year change (in percent):
City / Category | 1 + KK | Change | 2 + KK | Change | 3 + KK | Change |
Prague | 10,950 th most common | -5.0 | 14,900 th most common | -4.2 | 21,500 th most common | -2.3 |
Brno | 10,000 | 0 | 14 000 | 0 | 18 000 | 0 |
Ostrava | 6200 | -4.8 | 9000 | -10.0 | 13,900 th most common | 2.2 |
Pilsen | 8000 | 0 | 11,100 th most common | -3.5 | 14 000 | 0.7 |
Liberec | 7500 | 0 | 10 500 | 10.5 | 14 500 | 3.6 |
Olomouc | 9500 | 11.8 | 12 000 | 0 | 14 500 | 0 |
Source: UlovDomov.cz