The situation in the rental market in the Czech Republic has undergone significant changes in the third quarter of 2023. According to UlovDomov.cz, rental prices during this period ranged from a 4 percent decrease to a 17 percent increase compared to the previous quarter. 

Student demand and shortage of residential properties

Student demand for housing in Czech university towns is always high, and this demand has particularly intensified in the third quarter of 2023. As a consequence, the prices of 1+kk and 3+1 apartments increased significantly.

Price growth by apartment type

Looking at rents by apartment type, 2+kkk, and 3+1 apartments proved to be the most in demand. In particular, the rent for 2+kk apartments in Prague has increased by 3% (approximately CZK 625), so the cost per month without a deposit is now CZK 19,150 (€776).

In other major cities in the Czech Republic, the situation has also changed somewhat. In Brno, the rent for 2+kk apartments has increased by 6% (approximately CZK 910)—the price for a month is now CZK 16,000 (€650). Rents for 2+kkk apartments in Ostrava increased by 17%, which is the largest increase among all cities and towns. In Plzeň and Olomouc, rents for 2+kkk apartments remained at CZK 12,245 and 13,613, respectively (€500 and €550).

Changes in rental prices in different cities in the Czech Republic

Prague:

  • The highest price increase (4%) was recorded for 1+kkk apartments.
  • The largest price decrease (1%) was recorded for 3+kk apartments.

Brno:

  • The largest price increase (9%) was observed for 1+1 apartments.
  • The largest price decrease (2%) was for 3+kk apartments.

Ostrava:

  • The largest price increase (17%) was recorded for 2+kkk apartments.
  • The largest price decrease (2%) was observed for 2+1 apartments.

Plzeň:

  • The largest price increase (5%) was for 3+1 apartments.
  • The largest price decrease (2%) was for 3+kk apartments.

Olomouc:

  • The largest price increase (5%) was for 1+kk apartments.
  • The biggest price decrease (1%) was for 1+1 apartments.