Prague flats shortage rises to 22,000: survey

The shortage of flats in Prague has trebled in the last three years to reach around 22,000 according to a survey carried out by the consultancy Deloitte. It highlighted the fact that the number of building permits had dropped from around 8,000 in 2000 to around a quarter of that level. The number of completed flats will probably drop this year to around 4,000 from 6,000 last year.

Price rises for flats in Prague have been among the highest in the country and in Europe over the last year.