How does it look like, if one wants to move to Prague?

Even when the Czech GDP is still growing, the folks are still dissatisfied. Why? Low salaries compared to rising prices of everyhing. To rent a flat in Prague, I mean a small flat with a kitchen in the living room, costs 12 000 czk, 500€/month at least.

Allow me to present a little calculation here: the Average Czech salary is 20 000czk, which is 833€/month. After paying the state taxes, one is left with 15 000 czk, 625 € a month. The very cheapest flat 1 room 1 bedroom in the most ugly part of Prague in the most ugly Russian block of flats costs 1 800 000 czk, which is 75 000€. If we count in the charges for a decent mortgage, we must count in another 200 000 czk, about 8300 €. So, if an average Czech wants to buy the cheapest flat in Prague, let’s say he/she will live on bread and water and give one third of salary away every month to pay 5 000 mortgage, the flat will be his/her in 33 years. So, if a Czech buys a flat when being 25 yo, he/she will be out of the debt two years before the retirement.

Related Articles