Fri. Apr 12th, 2024

>> Prague/unsplash

Prague was recognized as the most inaccessible city for purchasing housing and investments. After all, people who work in the Czech capital and want to buy a 75 m² apartment there will have to put aside 25.3 annual salaries to afford real estate.

According to a study published by Politico at the end of last year , Prague is the most inaccessible city for buying a home in Europe. The Mayor writes about it.

Prices for buying an apartment in Prague have increased by 120% since 2010, and rents for housing – by 30%. That is why the cost of an apartment with an area of ​​75 m² is more than 25 annual salaries of people working in the Czech capital.

However, it is worth noting that Czech salaries have increased by only 21%. Analysts predict that this year housing prices will rise by another 5%. They attribute this growth to regular high demand for real estate, as well as the energy crisis.

 Read which city was recognized as the most unaffordable for buying housing in Europe

Prague/unsplash

Analysts recommend making it a priority to expand the public housing stock of Prague, as it currently accounts for only 5%. It is also proposed to introduce progressive taxation for large property owners in order to curb the rise in prices.

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