Czech Republic: House Prices, Rents, and Rental Yields
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Last Updated: Feb 13, 2006
Yields are moderate at 6.5%-7.5% in Prague
| Last Updated: Feb. 13, 2006 | |||||
| PRAGUE - Centre | COST (€) | YIELD (p.a.) | PRICE/SQ.M. (€) | ||
| TO BUY | MONTHLY RENT | TO BUY | MONTHLY RENT | ||
| 70 sq. m. | 150,000 | 900 | 7.20% | 2,143 | 12.86 |
| 100 sq. m. | 240,000 | 1,400 | 7.00% | 2,400 | 14.00 |
| 150 sq. m. | 350,000 | 2,000 | 6.86% | 2,333 | 13.33 |
| 200 sq. m. | 440,000 | 2,200 | 6.00% | 2,200 | 11.00 |
| 250 sq. m. | 500,000 | 2,600 | 6.24% | 2,000 | 10.40 |
| 350 sq. m. | 700,000 | 3,400 | 5.83% | 2,000 | 9.71 |
| PRAGUE - Suburbs | |||||
| 120 sq. m. | 180,000 | 700 | 4.67% | 1,500 | 5.83 |
| 250 sq. m. | 400,000 | 1,800 | 5.40% | 1,600 | 7.20 |
| 350 sq. m. | 500,000 | 3,000 | 7.20% | 1,429 | 8.57 |
| COUNTRY SIDE - Near tourist locations |
|||||
| 40 sq. m. | 170,000 | 1,000 | 7.06% | 4,250 | 25.00 |
| 70 sq. m. | 260,000 | 1,600 | 7.38% | 3,714 | 22.86 |
| 170 sq. m. | 300,000 | 1,900 | 7.60% | 1,765 | 11.18 |
| 300 sq. m. | 650,000 | 2,800 | 5.17% | 2,167 | 9.33 |
| 500 sq. m. | 1,200,000 | 4,000 | 4.00% | 2,400 | 8.00 |
| Source: Global Property Guide | |||||
Yields in Prague are moderate by the standards of Eastern Europe, in part because the prices of apartments and houses have already risen strongly in the past few years. Central Prague properties have yields ranging from 6% to 7% while properties within the suburbs have yields of 4.5% to 7.2%. Smaller properties in the center command higher yields while it is the reverse in the suburbs.
Properties close to the tourist destinations in the country side command the highest yields, up to 7.6%.
However, there is an oversupply of luxury rentals. Rentals for luxury flats and villas in Prague have fallen 20%-70% since the year 2000, with the top end units getting hit the hardest.
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