Prague housing crisis impacting “more people than it used to before”, says expert

Illustrative photo: Štěpánka Budková, Radio Prague International

A recent study that analyses the housing situation in Prague revealed that the country’s real estate market is the least affordable in Europe. Factors such as privatization and a lack of growth in real wages have put an increasing number of residents in an insecure position. To learn more, I spoke with one of the editors of the study, Václav Orcígr.

According to this survey – Prague is the most unaffordable city in Europe for housing. Housing prices have risen by 50 percent while wages have only gone up by 21 percent. Can you tell me a little bit more about what the study has revealed?

“The study is quite complex. We tried to gather data that is recent and up to date regarding housing affordability in Prague. The main data sources are either international surveys or local Czech surveys from the Czech Statists Council, Deloitte, or the Institute of Planning and Development. There are about 200 sources that were used in this publication.

See the rest here.

Author: Amelia Mola-Schmidt