Prague among least affordable cities for housing in Europe

Prague ranks as the third least affordable major city in Europe for purchasing a new apartment, according to Deloitte’s Property Index. On average, residents in the Czech capital need the equivalent of 15 gross annual salaries to buy their own flat i.e. 1.7 more than last year. Only Amsterdam and Athens fare worse.

Rental prices in Prague continue to rise, while average mortgage rates remain among the highest in Europe. Although the city improved slightly compared with last year, when it ranked second worst,  the overall situation has deteriorated, with more years of income now required to afford a home.