One-third of all Prague residents are living in rented premises, according to the consultancy Deloitte. It claims the reason for this is the high price of residential real estate, which cost CZK 76,500 per square meter on average as of the end of the third quarter of 2018. That so many people would be renting comes as something of a surprise to many Czechs, who prefer to own their homes, but Deloitte points out that in Austria and Germany, the ratio of renters tends to be over 75 percent. The exception for Czechs occurs in its poorer areas such as the Karlovary region, where 52 percent of residents live in rented accommodations because they can’t afford to own real estate, despite its lower price.
