In a significant move towards market-oriented housing solutions, Prague has successfully concluded its first electronic auction of municipal apartments. The pilot project, launched under the supervision of Deputy Mayor Alexandra Udženija (ODS), marks a new era in the city’s approach to managing its housing stock.
The initiative, which began in November 2024, offered ten apartments in prime locations across central Prague. Out of these, eight units were successfully leased, demonstrating strong market interest with some listings receiving up to a thousand views. The available properties, ranging from one to three-bedroom units between 30 and 170 square meters, were located in prestigious streets including Lublaňská, Na Můstku, Železná, Panská, Školská, and Truhlářská.
The auction’s success is exemplified by a one-bedroom apartment in Lublaňská Street, Vinohrady. Initially listed at 7,500 crowns monthly, the winning bid more than doubled to 17,000 crowns. The new tenants will receive two-year contracts with the possibility of extension.
To participate, bidders had to meet specific criteria, including not owning other residential properties and having no outstanding obligations to the city. A security deposit of 20,000 crowns was required before participation.
Deputy Mayor Udženija expressed optimism about the system’s future, suggesting it could become a valuable source of housing opportunities while generating additional revenue for the city’s housing maintenance needs.