Rent prices in Prague up by 10 percent year-on-year

More and more Czechs are choosing to live in rented accommodation because of the high cost of housing, which is leading to a steady rise in rent prices, the news site Novinky.cz reported. The demand is so great that tens of people come to see one property in the big cities. According to KPMG, rents in Prague have risen by an average 10  percent year-on-year, and will continue to rise if the long-term imbalance between supply and demand continues. According to real estate agencies, up to 70 people apply to view one flat-to-rent in Prague, and around 40 do so in Brno.