The prices of flats in Prague are dramatically increasing regardless of the pandemic, which has shrunk both interest in them and the cost of rent. The reason for different development is simple: rent has decreased due to coronavirus measures and when the pandemic ends, it will skyrocket.
However, the City of Prague itself, the councillors of which approved establishment of Pražská developerská společnost (PDS) last year, could bring long-term change to the rental and sales market. “Long-held ambition of PDS is to help build 600 to 800 rental flats per year,” claimed Martin Červinka, demographer, who manages PDS together with Petr Urbánek, managing director, and who is a member of an advisory team of Petr Hlaváček, the first deputy mayor for the development of Prague who initiated and created the establishment of Pražská developerská společnost.
Full article available here.
