Prague flats most expensive in Central Europe, in terms of average earnings

17-07-2019

The average apartment in the centre of Prague is not only far more expensive than a comparable flat other central European capitals, such as Bratislava or Warsaw, it is approaching that of Berlin.

Prague, photo: Dezidor, CC BY 3.0Prague, photo: Dezidor, CC BY 3.0 This is according to the website Numbeo, which bills itself as the world’s largest database of worldwide housing (real estate) prices.

While in nominal terms, the most expensive flats in the region are in the German city of Munich, in real terms, they are in the Czech capital.

The average price for an apartment in Prague’s city centre is now CZK 124,098 per square metre – equivalent to about 419 percent of the average monthly net salary, as calculated by news server Novinky.cz, compared to 295 percent in Warsaw, 292 percent in Bratislava, and 292 percent in Krakow.

In absolute terms, in Frankfurt the price is CZK 164,661, in Vienna CZK 161,391, and in Berlin CZK 148,647. In Munich – the most expensive of all – a flat in the centre would go for CZK 256,339. But for a Bavarian, than amounts to 378 percent of the average monthly salary after taxes.

As far as apartments prices of outside city centres are concerned, in Prague the price square metre is CZK 81,132 on average, on the outskirts of Berlin it’s CZK 99,033, and on the edge of Bratislava it’s CZK 53,367, according to Novinky.cz.

In the Moravian capital of Brno, a flat in the centre will cost CZK 65,700 per square meter, representing 258 percent of the average monthly income. A square meter of the Brno apartment will cost CZK 50,152 outside the centre.