Study: Prague among cheapest cities to move in

The Czech capital Prague is among twenty cities in the world where foreigners face the lowest initial costs after relocating, according to an analysis carried out by the German-based relocation firm Movinga.de. While transportation and meals in Prague are relatively cheap, apartment rents tend to be higher than in most other post-communist countries.

Prague, photo: Marta GuzmánPrague, photo: Marta Guzmán Movinga.de ranked costs in 75 cities around the world for the first month, including rent for a flat in the city centre, transportation, food and drinks and setting up a telephone account. Prague placed 56th on the list of 75 cities surveyed, with average costs for the first month standing at a little over 865 euros.

Prague ranks among the cheapest cities mainly due to the low cost of transport, which is the tenth lowest in the 75 cities surveyed. The costs of food and drink were calculated as 15th lowest. However, Prague ranks among the more expensive cities when it comes to rent, with an average rent of nearly 470 euros for a 35 square metre flat.

Within Europe, the Czech capital has not come out as the cheapest city either. According to Movinga.de rating, only seven cities are cheaper than the Czech capital, including Bucharest, Sofia, Riga, Budapest, Warsaw, Athens and Tallin. In Warsaw, foreigners would pay 145 euros less than in the Czech capital during the first month after relocating.

Worldwide, the cheapest cities for the first month are Tunis, at 397.80 euros, followed by Bangalore, Cairo, Bucharest and Medellin.

“Berlin, Paris, Frankfurt, Dublin and Amsterdam; these are all cities that may be preparing for an influx of banking industry workers due to Brexit,” Movinga managing director Finn Hänsel said in a press release. “Among the factors that bank directors will have to take into consideration in relocating will be the cost of relocation for employees. Therefore, studies like this will be very important in the years to come.”

The highest costs were in Luanda, the capitol of Angola, where the costs for the first month amount to 3,259.32 euros. New York City came in second, followed by San Francisco and Zurich. The top five is rounded off by London.