Housing Has Risen in Price in the Czechia

Real estate prices in the Czech Republic have increased by more than 130% over the past 12 years, according to the housing data from the Statistical Office as part of the publication "Living Conditions 2022". 

The level of home ownership. Czechs still prefer to live in their own housing. According to this indicator, they correspond to the average level for Europe. The share of own housing is highest in Romania, the lowest in Denmark and Austria.

In the Czech Republic, almost three quarters of households live in their own housing, mainly in houses, and less than a third of the population live in their own apartments.

Rent. On average, Czechs paid 6,820 kronor (€286) per month for housing in the first half of 2022. This is the national average for all types of housing, as well as for all localities. The main reasons for the cost increase were electricity and gas prices, which were 17% higher than in the previous year.

Prices. According to the latest data from Eurostat, from 2010 to the third quarter of 2022, the price of real estate in the Czech Republic has more than doubled. Prices for houses and apartments have become 133% higher than in 2010. This is one of the most noticeable jumps in the European Union. Prices for houses and apartments have increased more over the past 12 years only in Estonia, Hungary, Luxembourg, Lithuania and Latvia. On the contrary, in Italy and Greece, real estate prices have declined.

As for rental prices, they have increased by more than 30% since 2010. It is also one of the highest rates among EU countries. The average is 18%.

Source: 420on.cz 
Photo by Micaela Parente on Unsplash

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