Rental property in Prague

The famous Czech capital is a magical place with its countless cathedrals, bridges, domes, and castles reflected on every street and especially in the astonishing Vltava River. The miracle people are able to enjoy is that the city escaped the majority of WWII’s destruction. Prague is tempting people all over the world to explore its rich history and remarkable architecture.

Owing to the advantageous strategic location, low-cost structure, and efficient workforce, Prague has attracted a powerful inflow of FDI (foreign direct investment). It speedily enlarges productivity and upgrades its industrial basis. As the Czech Republic possesses membership in the European Union, it involves that tariffs, norms, and most procedures must comply with the EU standards.

One must admit, renting, for example, a house can be a perfect idea – whether for a short time or on a long-term basis – for those couples or entrepreneurs who aren`t going to settle in for decades or those who are waiting for the completion of their own property.

As for the current situation in the rental market:

1. Approximately 670 euros is a cost one needs to pay for a 60 square meter (sq. m.) apartment in the capital per month
2. Approximately 1,375 euros per month is a cost one needs to pay for a 110 sq. m. apartment in Prague.

It`s needless to say that rental housing in the capital, Prague, is about 2,5 times more expensive than in other cities and small towns of the Czech Republic. In the downtown are located the most expensive rental apartments.

Nevertheless, the level of such costs frequently also matches proportionately to the excellence and size of the housing provided.

There are areas in the Czech Republic, where it should be rather impossible to detect satisfactory spots to rent at acceptable prices. Doubtless, the population of Prague knows a lot about communication with Europeans and, most of the time, speak English while the rest of the Czech Republic has predicaments with such communication.

Outside of Prague everyone, who wants to rent property, should be prepared for several months of looking around, visiting and conduction negotiations before he finds the place to live.