There are smaller apartments for rent in big cities. According to the developers, rents will increase, but only slightly iRADIO
Rent prices in the Czech Republic continue to rise, they reached the level of 2019 and further growth is expected. Between the years, according to the Realitymix.cz portal, the average rental price per square meter in the country increased by almost 11 percent, while in Prague, according to an analysis by the development companies Trigema, Skanska Reality and Central Group, the rent rose by 15.6 percent.
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The reason for rising prices is, among other things, a reduction in the supply of available apartments. For example, in regional towns, properties with an area of more than 70 square meters are decreasing.
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According to data from the company GarantovanyNajem.cz, the number of apartments of this size in Prague has decreased by more than 54 percent – there are currently 1,960 apartments available for rent in the metropolis, while last year there were 4,300 on offer. There are 300 available in Brno, including 30 percent less. In Pilsen, the supply fell by 37 percent to about 100 apartments, data show.
According to the company, the situation is similar in other university towns. The problem of the lack of these apartments could manifest itself, for example, among students who use shared housing.
“Students who plan to find an apartment to rent from September, to be shared, should not underestimate the situation. If I don’t get housing as soon as possible, I may have to make concessions on my rights or pay more for rent,“ said Viktor Mejzlík, co-founder of GarantovanyNajem.cz.
“People will not be willing to pay large amounts“
The average rental price per square meter was used in all regional cities with the Ústí nad Labem exhibition, Realitymix.cz reported. According to her, the shortage rose by 23 percent in Brno and by 17 percent in České Budějovice.
In Prague, according to Trigema, Skanska Reality and Central Group, it is 360 crowns per square meter and has been at a maximum since 2016. The average price of short-term cargo is 28,500 crowns per month.
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Rents are expected to continue to rise over the next twelve months. In Prague by three to four percent, which is approximately 500 crowns per month, estimates Mejzlík.
“The price and demand for rental housing will probably continue to change. But people will not be willing to pay enormously high amounts due to rising energy costs. Therefore, any range will be done at a moderate pace,“ said a study by the Swiss company PriceHubble among domestic real estate experts.
Mejzlík estimates that the unavailability of housing caused by high interest rates and real estate prices, together with the rising rental price, will affect young people in particular.
Even after completing their studies, they will use less comfortable options, such as shared apartments or stay longer with their parents, so that they can order their own to save for as long as possible, he said.
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