Average new apartment in Prague costs 13.9 yearsʼ salary, study says

Analysis

A Prague resident would have to work 13.9 years for a medium-size apartment of 70 square meters if having no other expenses, according to a new study by developer Central Group, reported the Czech Radio. 

Last year, the figure stood at 14.1%. According to the data by Central Group, the average price of a new flat sold in the Czech capital stands at CZK 110,117 (EUR 4,166) per square meter, while the average gross monthly wage in Prague stood at CZK 42,435 (EUR 1,605) at the end of September.

According to the report, compared to other large cities in central Europe, Prague housing is less affordable than in Bratislava, Munich, Vienna, Warsaw and Berlin. 

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