Study: Average new Prague flat costs 13.9 years’ salary

A Prague resident would have to work 13.9 years for a medium-size apartment of 70 square metres if having no other expenses, according to a new study by developer central Group, released on Wednesday. Last year, the figure stood at 14.1 percent.

According to the data by Central Group, the average price of a new flat sold in the Czech capital stands at CZK 110,117 crowns per square meter, while the average gross monthly wage in Prague stood at CZK 42,435 at the end of September.

Compared to other large cities in central Europe, Prague housing is less affordable than in Bratislava, Munich, Vienna, Warsaw and Berlin.

Author: Ruth Fraňková