How Is COVID-19 Changing Czech Real Estate Market?
Since the COVID-19 spread at the beginning of March, many changes occurred in our daily life. Suddenly, cities had been empty, stores, cafés, and restaurants closed, and all of us were locked down at home going out only for essential things, remembering an apocalyptic scenario usually seen in Hollywood movies. Over time, we reset our mindset, relearned to live, the situation got better and now we are trying to return to the old “normal life”. However, definitely with these times emerges new challenges, and a lot of transformations are occurring in different economic markets. Real estate is no exception, and therefore we will expose to you some changes in this market in the Czech Republic and its regulations due to the COVID-19 pandemic. Real Estate Supply & Demand At the moment, one of the main differences you can observe in the market compared to two months ago is the number of apartments to rent. Naturally, it is happening because once the borders had closed, tourism in the country stopped. As you know, in Prague a lot of apartments are rented through the Airbnb platform, and without tourism, the majority of the landlords are putting them on the market trying not...