Are you considering moving to Prague and wondering how much a flat would cost? Well, the answer may surprise you.
Prague’s real estate market has experienced significant growth in recent years, making it one of the most expensive cities in Central Europe. The average cost of a flat in Prague depends on several factors such as location, size, and amenities.
Location
The most significant factor affecting the price of a flat in Prague is its location. The city is divided into ten districts, each with its unique charm and character.
The most popular districts among expats are Prague 1, Prague 2, and Prague 5. These areas offer easy access to major tourist attractions, restaurants, and nightlife. However, they are also the most expensive areas to live in.
Prague 1:
If you want to live in the heart of the city with stunning views of historical landmarks like Charles Bridge and Old Town Square, you can expect to pay anywhere between 20-30 million CZK (approx. $900k-$1.3m) for a two-bedroom apartment.
Prague 2:
This area is known for its charming streets lined with cafes and boutique shops. A two-bedroom flat here can cost between 13-20 million CZK (approx. $570k-$870k).
Prague 5:
Located on the left bank of Vltava River, this district offers a more relaxed atmosphere than other central areas while still being close to major attractions. A two-bedroom flat here can cost between 8-13 million CZK (approx. $350k-$570k).
Size
The size of your desired flat is another crucial factor that affects its price. In general, bigger flats cost more than smaller ones.
Studio/One-bedroom flats:
If you are a single person or a couple, you can consider a studio or one-bedroom flat. These flats usually range between 2-4 million CZK (approx. $87k-$174k) in the central areas.
Two/Three-bedroom flats:
For families or those who prefer more space, two or three-bedroom flats are ideal. These flats can range between 6-30 million CZK (approx. $260k-$1.3m) depending on the location and amenities.
Amenities
The amenities offered by a flat also affect its price. For example, flats with balconies, parking spaces, and elevators cost more than those without.
Balconies:
If you want to enjoy stunning views of the city from your flat, you can consider getting a flat with a balcony. However, be prepared to pay an additional 1-5 million CZK (approx. $43k-$217k).
Parking spaces:
Prague’s traffic can be chaotic at times, making parking spaces highly sought after but also expensive. A parking space can cost anywhere between 500k-2 million CZK (approx. $22k-$87k).
Elevators:
If you prefer not to climb up several flights of stairs every day, you may want to consider getting a flat with an elevator. However, this luxury comes at an additional cost of 500k-1 million CZK (approx. $22k-$43k).
- Conclusion:
- If you are looking for a flat in Prague’s central areas with all the amenities and luxuries that come with it, be prepared to pay top dollar.
- However, if you are willing to compromise on location and amenities, you can still find affordable flats in the outskirts of Prague.
In conclusion, the cost of a flat in Prague depends on several factors such as location, size, and amenities. You can find affordable flats in the outskirts of the city or compromise on some amenities to stay within your budget.