A sudden jump in housing costs
The gradual rise in rents in this country is nothing new. In December, however, property portals recorded a significant increase in the amount owners were asking for the rental of a flat or a house. On the popular bezrealitky.cz portal, for example, the average rent rose to 344 Kč per m2. That represents a year-on-year increase of 17%. A typical 2+kk flat measuring 65 square metres is now offered for 22 387 Kč a month. What is more, rising housing costs are not limited to Prague, Brno, Ostrava or Plzeň, but affect towns and villages in every region of the Czech Republic. The record holder is the Olomouc Region, where December rents grew year on year by 34%, reaching 254 Kč per m2. The property market shows a similar picture in the Pardubice and South Bohemian regions.
In the capital, the average rent currently stands at 412 Kč per m2
The way rents developed at the close of the year will most likely feed through into the price level of rental housing in the coming months. Owners of vacant properties who now decide to put them up for rent can be expected to follow the price trend set in December.
Huge interest in renting
The price of rental housing is influenced by many factors. The most fundamental one is, of course, interest in renting itself. And demand for rental housing in the Czech Republic has been high for years. On the Bezrealitky property portal, every listing currently attracts 74 people on average. Looking at Prague alone, owners record roughly 108 prospective tenants for their property. Picking a reliable tenant amid such enormous pressure is an almost superhuman task.
If you want to live in the capital, you have to beat more than a hundred other applicants for a single rental flat. In Brno, an average of sixty people compete for one property
At present, about a quarter of Czechs live in rented housing and, as you can read on our blog, their share is very likely to keep growing in the years ahead. Wondering how to pick the “right one” from dozens or even hundreds of applicants for your rental flat? With FLAT SERVICE, you need not fear making the wrong choice. As professional property managers, we have many years of experience finding decent tenants who will treat your flat with the same care as their own and who will be absolutely reliable when it comes to paying the rent. Call +420 277 000 330 or send a message to sales@flatservice.cz and leave all the worries of renting out your vacant property to us.
