Build-to-Rent Developments and What They Offer Tenants

Some 2,500 new build-to-rent apartments are set to hit the Prague market by the end of 2027, according to data from property consultancy CBRE, with many of these developments located in up-and-coming neighbourhoods like Smíchov and Karlín.

This surge in build-to-rent developments matters now because Prague's rental market is becoming increasingly competitive, with prices rising by an average of 10% in the past year alone, according to figures from the Czech Statistical Office. As a result, many tenants are finding it difficult to afford traditional rentals, particularly in popular areas like the city centre and Vinohrady. Build-to-rent developments, which offer a range of amenities and services, are becoming an attractive alternative for those looking for a more affordable and convenient option.

In Prague, build-to-rent developments can be found in a range of locations, from the trendy bars and restaurants of Dlouhá street in the Old Town, to the leafy parks and gardens of the Bubeneč neighbourhood. Developments like the River City Prague complex in Karlín, which offers a range of amenities including a fitness centre, swimming pool, and on-site concierge service, are proving particularly popular with tenants. Similarly, the Smíchov City development in Smíchov, which features a rooftop garden and stunning views of the Vltava river, is attracting tenants who want to be close to the city centre but also enjoy a range of amenities and services.

What Do Build-to-Rent Developments Offer?

So what exactly do build-to-rent developments offer tenants? According to data from property developer Skanska, the average build-to-rent apartment in Prague comes with a range of amenities, including a fitness centre, swimming pool, and on-site concierge service. Many developments also offer additional services, such as laundry and dry cleaning, dog walking, and even on-site childcare. In terms of prices, the average monthly rent for a one-bedroom build-to-rent apartment in Prague is around 25,000 CZK (approximately 1,000 EUR), although prices can range from as low as 18,000 CZK (around 720 EUR) for a studio apartment in a less central location, to as high as 40,000 CZK (around 1,600 EUR) for a luxury three-bedroom apartment in a prime location like the city centre.

Looking ahead, it's likely that build-to-rent developments will continue to play an increasingly important role in Prague's rental market. As the city's population continues to grow, and more and more people look for affordable and convenient housing options, build-to-rent developments are likely to become an attractive alternative to traditional rentals. For tenants, the key will be to do their research and find a development that meets their needs and budget. With so many new developments set to hit the market in the coming years, there's never been a better time to explore what build-to-rent has to offer.