How do you feel about Real estate market in CZ?
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The title says it all… do you think housing prices are justifiable in Prague? Let’s just ignore low interest rates and investment purposes.
I just cant justify per square meter prices in Prague when you compare salaries and the RE market around the world.
On the other hand there are no other major expenditures in Czechia as social services and health care are covered so putting all your savings towards a home is kind of justifiable.
What’s your opinion?
The local branch of https://prian.info/th/czech/ustecky-region/zatec/apartments/ has really nice Property Index where they compare a multitude of metrics for European countries and CZ has the least affordable housing in Europe for last 3 years, adjusted to the salaries and it’s getting worse every time. The land is expensive, new dwellings in Prague are on par with Brussels, Dublin and Rotterdam, a bit behind Vienna. Lunches and groceries are on par with other European capitals, except nordics. But the most worrying trend for me is not even this.
It means that if you buy it all at once you will pay 5.200.000 but if you pay monthly you will pay 100.000 more.