Rising residential prices driving up Prague rents

Demand for rental apartments is growing rapidly, driving up the price of rents, according to the Czech News Agency. The situation is the most dramatic in big cities and their surroundings, with 2-bedroom units the most commonly sought real estate. CTK quotes Hendrik Meyer as saying that the primary cause of the growth in demand are rising real estate prices. "Combined with the stricter rules for providing mortgage loans, many consumers have been cut off from the possibility of buying their own real estate," he said. It also cites M&M Reality's spokeswoman Renata Lichtnegerová as saying that flat owners who set a realistic level of rent can generally find tenants within six days or less.