Deloitte: Resi rent prices rose by one percent to CZK 295 per sqm in the first quarter

The average rent in the Czech Republic rose by one percent quarter-on-quarter to CZK 295 per square metre in the first quarter. Rents rose most significantly by 4.3 percent in Olomouc and by 3.1 percent in Hradec Králové. On the other hand, rental prices fell by 1.8 percent in Karlovy Vary, 1.2 percent in Liberec and less than 1 percent in Jihlava. This is according to the Rent Index data from the consulting and technology company Deloitte.

Rents are traditionally highest in Prague, where prices rose by 1.5 percent quarter-on-quarter at the beginning of the year. Tenants paid an average of CZK 400 per square metre. In the city's districts, the price of rents rose fastest in Prague 7, by 4.3 percent to an average of CZK 409 per square meter. In Prague 4 it was by 3.4 percent to CZK 364, in Prague 9 by three percent to CZK 377 and in Prague 6 by 2.4 percent to CZK 382. The average rental price in the capital city decreased only in Prague 1, by 0.2 percent to CZK 469 per square meter.
After Prague, the most expensive rents in the Czech Republic are in Brno, where the price rose by 1.2 percent to CZK 329 per square meter. However, the price also rose in the Central Bohemian Region, by 2.6 percent to CZK 273, and in Zlín, where it increased by less than two percent to CZK 272.

According to Deloitte data, the highest rents are in new buildings and development projects. The average price per square metre in them rose by 1.1 percent to CZK 360 per square metre. The price of rents also rose in brick houses, by an average of 1.4 per cent to CZK 296 per square metre, and in prefabricated houses, by 0.4 per cent to CZK 250.

According to earlier Rent Index data, the average monthly rent per square metre in the Czech Republic was CZK 292 in the fourth quarter of last year, down 0.3 per cent quarter-on-quarter. The current data shows that the decline was more of a short-term phenomenon, and further moderate price growth can be expected in the coming months, said Petr Hána, director of real estate and construction at Deloitte. "The price of rental housing in the Czech Republic rose last year, with one exception in the last quarter. However, the first quarter of this year is showing growth again, continuing the medium- to long-term trend in the market," he said.

Source: Deloitte and CTK