The Prague Development Company is embarking on an ambitious project to deliver between six and eight thousand rental apartments across the metropolitan area over the next decade. Currently, 450 units are in various stages of the approval process.
The initiative aims to address the city’s housing crisis by providing affordable housing options for essential workers such as teachers, police officers, and healthcare workers, who will benefit from below-market rental rates. According to Deputy Mayor Alexandra Udženija, Prague needs approximately 9,000 new apartments annually to stabilize the housing market, but complex regulations and bureaucracy typically extend development projects to seven years.
The most immediate development is the Peroutkova Street project, expecting building permits in the second quarter for 60 apartments. Similar progress is being made on projects including Nový Zlíchov, Jalové dvory, Dolní Počernice, and V Botanice. While smaller projects will be financed through the city’s budget, larger developments will seek funding from partners, including the European Investment Bank.
A flagship development is planned for Nové Dvory, spanning 30 hectares at the intersection of Prague 4 and 12. This new district, centered around a metro station scheduled for completion around 2030, will feature affordable housing and comprehensive civic amenities.
The city is also negotiating with the state regarding land transfer in Letňany, where studies suggest the potential for up to 50,000 apartments, along with schools and kindergartens, benefiting from existing transport infrastructure.