As the demand for rental properties increases, so do the prices. Rental prices have grown up to 10% year over year in some regions. According to Hendrik Meyer, the CEO of European Housing Services, demand is steadily increasing, which has resulted in record-high rental prices. In some cases, there are up to 25 applicants for a single rental property.
These rising rental prices particularly impact the city of Prague. The average cost per square meter of rental properties in Prague is now 338 CZK, a significant increase from just a year ago when the price was 300 CZK. In contrast, the average cost per square meter of rental properties in Brno has recently dropped to 272 CZK, although this may be a temporary plateau in the face of increasing demand.
It is worth noting that while the rental prices in Brno may be stagnant, the supply of available rental properties is still relatively low, particularly in the most desirable neighborhoods. In Prague, over 4,300 rental properties are available on Sreality.cz alone, with more being added regularly.
In addition to the rising cost of rental properties, renters can expect to pay high-security deposits and real estate fees. For a two-bedroom rental in Prague or Brno in a desirable location, renters can expect to pay around 20,000 CZK monthly, plus two deposits and a real estate commission.
As the demand for rental properties continues to increase, it is unclear whether renters will be relieved shortly. However, with careful planning and research, finding affordable rental properties in the Czech Republic is still possible.