The easiest way to live is the Irish, who spend 3.1 years of salary on an average new apartment with an area of 70 square meters. In Serbia, it is 15.2 salaries. In the years 2017 to 2019, the availability of housing in the Czech Republic was the worst.
“Developments in the affordability of home ownership resonate across Europe over the past few years, with 64 percent of countries expecting the availability of home ownership to worsen in post-pandemic years,” said Miroslav Linhart, Deloitte’s managing partner.
Serbia and the Czech Republic are followed by Slovakia, Austria (10.6 annual salary) and Israel (9.2 salary). After Ireland, it is lowest in Belgium (4.2 salaries), Portugal (4.4 salaries) and Bulgaria (4.8 salaries).
Although new housing in the Czech Republic is the least affordable in relation to wages, nominal prices do not reach the level of Western countries. The most expensive is Austria with an average price of 4457 euros (114,320 crowns) per square meter. The cheapest was Bulgaria with a price of 578 euros (14,830 crowns) per square meter. In the Czech Republic last year, the average selling price of new flats rose by 8.5 percent year on year to 2,822 euros (72,380 crowns) per square meter. Year-on-year, prices rose the most in Hungary (by 12.3 percent) and the Netherlands (by 10.8 percent). In Norway, by contrast, they fell by four percent.
“In comparison with European capitals, the most expensive city, Paris, holds the lead, where a square meter costs 12,917 (331,320 crowns). The largest year-on-year growth in prices from the monitored capitals was recorded in Bratislava, by 13 percent. The only capital city where residents paid less to buy their own housing than last year is Rome, with prices falling by 3.1 percent, “added Petr Hána, Deloitte’s real estate manager. In Prague, the average price rose by 6.7 percent to 92,960 crowns per square meter. From Czech cities, Brno and Ostrava are also included in the study. In Brno, a square meter of a new apartment cost an average of 73,260 crowns, in Ostrava 45,580 crowns.
“Quarantine has also significantly affected the rental market in European capitals. In mostly tourist destinations, such as Barcelona, Budapest, Madrid, Prague and Amsterdam, there was a decrease in short-term accommodation rentals and an increase in the offer of long-term apartment rentals, “added Jakub Leško from the Deloitte real estate department.
Last year’s rent was the most expensive in Paris (735 crowns per square meter per month). This was followed by inner London (670 crowns) and Oslo (635 crowns). The cheapest rent was from the monitored European cities in Burgas (75 crowns). In Prague, a square meter was rented for an average of 295 crowns per month, in Brno for 250 crowns, in Ostrava for 165 crowns.