Building a new apartment building can take 10 years. The construction itself from groundbreaking to inspection takes two years. Most of the time is taken up by preparations where the developer must obtain dozens of permits. Critics say this is leading to a shortage of flats and driving up prices. Read more in an article by Raymond Johnston, Prague.tv.
According to Deloitte's Property Index – Real Estate Prices: How Europeans Live and What It Costs Them, revenues from apartment rentals in the Czech Republic fluctuate within the preferred range of 4 to 6%. The best yield can be gained in the city of Ostrava. On the other hand the least affordable own housing was for the first time observed in the Czech Republic where citizens need to save almost 11 years to buy a new apartment. Prices of new residential real estate in the Czech Republic are highest compared to the Central European countries, but their year-on-year growth was not as dynamic.
7th April 2020