As a city rich in history and known for its vibrant nightlife, Prague is a popular tourist destination. In past years, it became a popular destination for expats. This means that there are many options where to live with a wide choice of accommodation. Unfortunately, rents went up in the past few years and, especially for foreigners, it can be hard to find a flat in a good location and for a reasonable price.
Why is the rent in Prague so high?
Rent prices in Prague and other cities in the Czech Republic are getting closer to the prices in other European capitals like Berlin, Paris or Amsterdam – even though the average salaries in the city are quite a bit lower. There are several reasons why rent prices increased in the past few years. In general, the demand for flats in Prague exceeds supply. Developers are facing problems with a lack of employees and bureaucracy. Due to this, they construct fewer buildings than before the economic crisis in 2007. Flourishing tourism also does not help the rent situation. Many owners prefer to rent their flat through Airbnb for greater profit. Hopefully, the situation will get better in the future with plans for the Airbnb restriction.
Rent prices in Prague
There are a few basic rules regarding renting options in Prague – the further away you move from the city centre, the cheaper rent you get. Besides that, renting bigger flats and sharing with one or two flatmates is a cheaper option than renting a studio for yourself. Due to the high demand for small flats like 1 kk, 1 1 and 2 kk, their rental prices are high. In 2019, the average price of a flat in Prague was 360 CZK per m2. The most expensive flats are in district Prague 1, the cheapest ones in Prague 4, or Prague 8.
Since Prague is a student city, flat sharing is a very common practice, especially in the city centre. However, even this option is not exactly economical – you will probably be paying at least 8,000 CZK for a room in a shared apartment.
If you can afford to pay more and you want to rent your own flat, be ready to pay at least 13,000 CZK for a one-bedroom apartment out of the city centre. In case you are willing to rent a flat in district Prague 1 or Prague 2, a small flat will be about 20,000 CZK per month excluding fees. Are you moving to Prague together with your family and you need a bigger flat or a family house? The price of three-bedroom apartments starts at 25,000 CZK in the suburbs, family houses about 40,000 CZK. Of course, rent prices can vary according to different parameters such as furnishing, comfort level, etc.
All prices exclude expenses which are paid apart and should be around 2,000 CZK per month and per person – of course, it depends on the locality and your usage. Before moving to the new flat, you will be asked to pay a deposit equal to two or three months' rent.
Where to find accommodation in Prague
Like in any big city, there are several ways to look for an apartment in Prague. Starting your search online will probably be your first step. As Czech language websites tend to have the best offers, it will be easier if you know a little bit of Czech or have somebody who can help you out. Alternatively, there are also English language websites where you can find rental offers. Once in Prague, you can also ask colleagues or classmates for help. There are also many groups on Facebook. In fact, students are likely to find housing more easily thanks to their university or via word of mouth among their friends.
When searching for accommodation in Prague, you need to be fast. If you see something interesting, do not hesitate to call the owner and organise a visit as soon as possible. Many applicants could be interested too. Flats are usually rented within the first six days, the good ones within the single day. Waste no more time!
Real estate or not
In case you are new in the city, you should be assisted by a local or someone who understands Czech. Why not seek the help of a real estate agency, which can find an accommodation according to your criteria? Maybe you consider the provision to the real estate as useless. In fact, real estate employs experienced staff, who can find exactly what you want and for a fair price. Just wait for the real estate agent to present you with a list of options. Besides that, they will take care of all paperwork and legal service. In case everything goes well, they charge provision corresponding to one month's rent.
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