A new 70 sq m apartment in Prague now costs nearly 17 average gross annual salaries, up from about 15 a year earlier, according to Deloitte's Property Index.
A new 70-square-meter apartment in Prague now costs the equivalent of nearly 17 average gross annual salaries, up from approximately 15 a year ago, according to Deloitte's latest Property Index, as reported by Expats.cz. That makes Prague the second least affordable among the European cities surveyed, behind only Vlora in Albania (21.3 salaries). Athens follows at 16, while Brno and Slovakia's Košice stand at approximately 15 and Ostrava at 14.1. At the other end of the comparison, Turin requires 4.7 salaries. Deloitte's ratios compare prices with earnings; they are not a forecast of how long a household would need to save, nor a mortgage repayment period. Across the countries surveyed, Czechia's average new-home price reached approximately CZK 132,000 per square meter, second only to Luxembourg. This is a national figure rather than a typical Prague price. A separate Deloitte Develop Index put asking prices in Prague development projects at an average of CZK 182,700 per square meter in the second quarter of 2026, implying an indicative CZK 12.79 million for a 70-square-meter apartment. Deloitte's Miroslav Linhart pointed to strong demand, slow construction and still relatively expensive financing, and said a major improvement is unlikely without a substantial expansion of supply. The upfront contribution is a further hurdle. Per Expats.cz, the Czech National Bank's loan-to-value limit generally caps mortgages at 80 percent of the property's collateral value, or 90 percent for applicants under 36 buying their own home, and banks still assess each application individually. For the illustrative CZK 12.79 million apartment, assuming the valuation matches the price and no extra collateral is provided, buyers would need to cover roughly CZK 2.56 million or CZK 1.28 million from other funds. Renting looks less extreme in the ranking: Prague is 18th among surveyed cities, with rents averaging about CZK 470 per square meter per month, or around CZK 32,900 monthly for 70 square meters. Deloitte notes that expensive purchases and mortgages are also pushing up demand for rentals, and the lower ranking does not by itself show that renting is affordable relative to local incomes.