Czechia: Growing interest in rental housing, most demand for 2+kk layout

Since the beginning of this year, the interest in rental housing has grown in the Czech Republic. In some cities, dozens of people are interested in individual advertisements. The greatest interest across the country has been in flats with a layout of 2+kk and an area of between 45 and 50 square metres, while advertisements for flats of this size disappear from the offer sometimes within a few hours. This is according to data from the digital real estate service Bezrealitky.

"Although many households have been living in rentals in recent years, they considered it a temporary solution. Now they are finding that they cannot afford to own their own home despite the drop in interest rates, and are now looking for a 'definitive' rental where they will stay for the next few years. Demographics may also play a role," said Martin Ponzer, head of Bezrealitka.

Traditionally, the biggest interest in apartments is in Prague. According to Bezrealitka, an average of 43 people currently respond to one advertisement there, compared to 38 a year ago. In Brno and its surroundings, there are about 18 people interested, while in the first quarter of 2023 there were 14 on average. In fourth place were the towns of the Central Bohemian Region, where the average number of applicants fell slightly to ten people.

In addition to 2+kk flats, there is also interest in other smaller 1+kk or 1+1 units with an area of around 35 to 40 sqm. According to the real estate portal, the interest in multi-room flats with a larger area and layout is also gradually growing. However, the demand for them does not yet meet the price of the offer.

In the last three months, Bezrealitka said that the most interesting apartment in a panel house in Prague's Jižní Město district was a 3+1 apartment with 75 sqm of floor space, where the owner demanded CZK 17,500 for a 3+1 apartment with CZK 3,500 for utilities. 330 applicants responded.

Prague rents were below CZK 370 per square metre at the beginning of the year and increased by nine per cent year-on-year. The cities of the Central Bohemian Region reached the 260 crowns mark, with rents rising similarly to those in the capital. In Brno, rents stood at CZK 277, up two percent. Rents in Ostrava and Moravian-Silesian cities increased at the same pace year-on-year, with prices averaging just above CZK 180.

Source: Bezrealitky and CTK