>> 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.
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.