More flats for long-term rental housing available in Prague

The number of available flats for long-term rental housing in Prague at the end of the second quarter increased by 97.7 percent year-on-year to 14,738, according to data released by the development company Trigema. The increase is the steepest in four years.

The average price of rent is also down  by 2.4 percent year-on-year, to 319 crowns per square meter per month.

In connection with the coronavirus crisis and drop in foreign tourists, some homeowners who had apartments for short-term rentals have decided to provide them for long-term rent.

However, it can be expected that at least some of these landlords will return to short-term rental of their properties over time, since they tend to be more lucrative than long-term leases, Trigema says.