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

Natasha Kumar By Natasha Kumar Apr2,2024

>> 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.

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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