Prague, the capital city of the Czech Republic, is a popular tourist destination and also an attractive place to live. The city is known for its beautiful architecture, vibrant nightlife, and rich culture. However, before you decide to move to Prague, it’s important to understand the property market and how much it costs to buy or rent a property in the city.
Buying property in Prague
If you’re considering buying a property in Prague, the cost will depend on various factors such as location, size, and condition of the property. According to Numbeo, a website that provides crowdsourced data on various cities around the world, the average price per square meter for an apartment in the city center is around 102,000 CZK (around $4,700 USD) while outside of the city center it drops down to 61,000 CZK (around $2,800 USD).
However, these are just averages and prices can vary significantly depending on the location. For example, apartments in popular neighborhoods like Vinohrady or Old Town can be much more expensive than properties in less sought-after areas like Zizkov or Vrsovice.
Renting property in Prague
If you’re not ready to buy property yet and prefer renting instead, there are plenty of options available in Prague. The cost of renting will also vary depending on location and size of the property.
According to Numbeo again for instance as per 2021 data – A one-bedroom apartment in the city center can cost around 16,000 CZK (around $740 USD) while outside of the city center it drops down to around 12.500 CZK (around $575 USD). If you’re looking for something larger like a three-bedroom apartment or house expect to pay upwards of 30-40 thousand CZK ($1.5k-$2k USD) per month.
Additional costs to consider
When buying property in Prague, there are additional costs to consider such as real estate agency fees, legal fees, and taxes. These can add up to several thousand dollars so it’s important to budget accordingly.
When renting a property in Prague, you’ll typically need to pay a security deposit of one or two months’ rent upfront. Additionally, you’ll need to pay for utilities like electricity, gas and water separately from the rent.
Conclusion
The cost of property in Prague can be quite high especially if you’re looking for something in a prime location. However, there are also plenty of more affordable options available if you’re willing to live further away from the city center. It’s important to do your research and work with a trusted real estate agent to find the right property within your budget.
10 Related Question Answers Found
When it comes to buying property in Prague, one of the most important factors to consider is the cost. The price of property in Prague can vary greatly depending on various factors such as location, size, condition, and amenities. In this article, we will explore the average cost of properties in different areas of Prague and provide some tips on how to find the best deals.
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