Prices of flats in Prague rapidly grow

Flats in the Czech Republic, and especially in Prague, became at least 10% more expensive during the last year. The growth is even higher in some locations. For example, a three-room flat in Prague, which cost about 2 million CZK last year, is half a million more expensive now.

There is a high demand for flats at the present time. The mortgages are more accessible to people with lower salary and the interest is not high. Many flats were bought by people from abroad, who speculate with Czech flats, because of the growth of prices.

There are big differences between prices of flats in various locations. While in Prague you will pay for the mentioned flat the 2.5 million CZK, in a smaller Czech town, such as Pardubice, it is about 1.5 million.

However, the flats in Prague are still much cheaper than those in cities of the Western Europe.