Prague rents for small flats down 11.8 pct in annual terms

The average rent price for a two-room flat (2 + KK) in Prague dropped by 11.8 percent year on year in the last quarter of 2020 to 15,000 crowns, according to real estate server It fell by the same percentage in Ostrava and by 2.2 percent in Brno but stagnated in Pilsen, Liberec and Olomouc. head Martin Březina noted that thousands of small flats have entered the long-term market as the Covid-19 pandemic quashed Airbnb-style short-term rental to tourists. A contributing factor is that universities were obliged to switch to distance learning in most cases.

Author: Brian Kenety