How much you need to save in the Czech Republic to buy an apartment: housing prices

Real estate in the Czech Republic is getting cheaper – old apartments in Prague and Brno have returned to the price level of 2021. At the same time, the affordability of buying your own home is one of the lowest compared to neighboring countries.

How much you need to earn in the Czech Republic to buy an apartment, TRAVEL RBC-Ukraine tells with reference to seznamzpravy.cz .

How many salaries do I need to buy an apartment in the Czech Republic

Housing affordability in the megalopolis is deteriorating – a new apartment in Prague needs to be fully paid for 17.3 years, Central Group calculated.

At the same time, in neighboring capitals, the ratio of salaries and the cost of real estate speaks in favor of housing affordability – for example, in Berlin, Vienna or Warsaw, people can get a new apartment about 2 times faster – in about 9 years.

It is noted that in the Czech Republic since 2015, apartment prices have increased by 136%, and wages – by only 41%. In 2022, the average salary in the Czech Republic was 1,317 euros.

According to the portal 's research GetHome.pl to buy an apartment of 50 sq. m, in the Czech Republic you will have to postpone 120 salaries in full. Whereas in Poland – only 80, and in Germany – 90.

How much are apartments in the regions of the Czech Republic

According to the price compass Sreality.cz , apartments for 40-60 sq. m. m in good condition in the regions of the Czech Republic at the beginning of February 2023 are as follows:

  • Prague – 118263 CZK/sq.m (4975 euros);
  • Brno – 103917 CZK/sq.m (4371 euros);
  • Ostrava – 50511 CZK/sq.m (2125 euros);
  • Pilsen – 66800 CZK/sq.m (2810 euros);
  • Liberec – 63363 CZK/sq.m (2665 euros);
  • Olomouc – 66244 CZK/sq.m (2786 euros);
  • Ust-nad-Labem – 43029 CZK/sq.m (1810 euros);
  • Hradce Kralove – 80629 CZK/sq.m (3391 euros);
  • Ceske Budejovice – 78347 CZK/sq.m (3295 euros);
  • Pardubice – 73436 CZK/sq.m (3089 euros).

According to experts' forecasts, real estate in the Czech Republic may fall in price by 15% by the end of 2023. This is due to a decrease in the purchasing power of local residents.

Source: rbc.ua