Politics & Economics

Flat Rentals in Prague Exceed the Average Czech Salary

The rent of an average apartment in the capital city could cost you more than the average monthly salary. Problems with high rental prices are experienced not only by students but also young families with children, who are additionally hindered by landlord’s unwillingness to rent property to young families. In addition, landlords take advantage of the high demand associated with the beginning of the university semesters. Young people coming to study in the capital desperately need a place to live, and are then subject to extremely high rental prices, often exceeding 12,000 CZK for a room. Students often prefer to share an apartment as it saves money. Likewise, a student of barely twenty-years of age hardly earns enough to pay rent in the city. Demand exceeds supply here, and people are often so desperate that they don’t even take into consideration the price. And if you want to live for less, you’re out of luck. On a social networking site, one twenty-year-old girl who was looking for a home with her partner stated that she did not want the monthly rent to exceed 11,000 CZK. Scroll down, and in response, many had commented on how “ridiculous” this request was, and...

by Prague Morning Oct 05, 2018

China’s Golden Week: Shoppers in Prague Stores Will Increase By Up to 70%

Prague’s retailers can look forward to significantly higher sales to Chinese shoppers as the National Day of the People’s Republic of China on October 1 kicks-off the Golden Week of holidays. Some 705 million Chinese are expected to travel during this time, with 6 million going abroad. Fashion Arena Prague Outlet, the most well-known outlet center in the country, expects a 75% increase in the number of Chinese customers during the Golden Week compared to the norm. Last year, Chinese citizens spent CZK 1.9 trillion on travel during the Golden Week. Every Other Chinese Citizen Plans a Trip Currently, China has a population of 1.4 billion and remains the most populous country in the world. If there are several national holidays strung together in the People’s Republic of China (PRC), hundreds of millions of people take the opportunity to travel, the effects of which are felt far beyond the country’s borders. The Golden Week is a popular time for vacations outside China and according to a China National Tourism Administration report, 705 million Chinese took a longer trip at this time. “The higher-earning classes of Chinese that visit Europe enjoy our culture and fashion. Fashion Arena Prague Outlet has recorded...

by Prague Morning Sep 24, 2018

France Tells its Unemployed to Head to Prague

The French embassy in Prague and France’s government agency in support of employment have launched a campaign offering French people to seek jobs in the Czech Republic where hundreds of French firms operate. The campaign has been recently highlighted by the Le Parisien daily. The seminar is been organized on the outskirts of Paris and its main goal is convincing French unemployed to move to the Czech Republic. The joint campaign underlines growing desperation at President Macron’s failure to bring about a significant reduction in unemployment, which stands at 9.1 percent. Potential applicants can find information about the life and work in the Czech Republic on the websites of the embassy and the Work in Czechia campaign, which describe the beauties of the country and say that over 4,200 French have settled there so far. According to data released by Eurostat, the Czech Republic has the highest job vacancy rate in the EU (5.4% in the second quarter of 2018), the lowest unemployment rate in Europe (3.1% in August), and Prague had an unemployment rate of 1.7% in 2017. Author: red xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ haalandUEFAevertonfutebol ao vivofutemaxmulticanaisonbetbóng đá world cupbóng đá inter milantin juventusbenzemala ligaclb leicester...

by Prague Morning Sep 23, 2018

How Prague Is Going to Regulate Airbnb

Now is the time to book an Airbnb in Prague because a new law could regulate this online marketplace and hospitality unit. Airbnb is reducing the amount of available housing for Prague residents and is creating unfair competition for hotels. Many find that Airbnb changes the character and charm of neighborhoods with tourists flocking to the areas built for long-term living. Last year, guests booked 1.79 million overnight passes through Airbnb in Prague, so one of the main complaints with Airbnb is the increase in population in the city. They plan to regulate Airbnb through a decree where each municipality would set the rules according to their needs. This document would limit the number of days a year a home could be rented out to guests and even prohibiting reservations in certain areas. They could even set a maximum number of occupants in a property. The city finds the shared accommodation feature that Airbnb revolves around as a security threat. Prague leaders want to make sure local fees are properly paid, so they want the information of participating offices and houses to be turned in to them. Prague Officials are also in favor of the Local Fees Act, which...

by Prague Morning Sep 18, 2018

Czech Economy Likely to Grow 3.5 pct in 2018

The Czech economic growth had decelerated in the second quarter on a sequential basis. Both domestic and foreign demand continues to still drive the economic growth. The most significant contributors continued to be household consumption, which added 1.6 percentage points because of the solid labor market and fixed investment expenditures, impacted by economic recovery in the Eurozone and a lack of new available employees in the Czech economy, which is compelling companies to invest more into robotization and increased automation of plants. Meanwhile, the contribution of net exports was a bit negative in the second quarter, as high demand for Czech exports was outweighed by imports for consumption and investment purposes. GDP is expected to come in at 3.5 percent in 2018, according to an Erste Group Research in a report. “In 2019 and 2020, we expect GDP growth to arrive at 3.0% and 2.9%, respectively. Although the economic development of solid domestic as well as foreign demand should continue, GDP growth will gradually slow down” stated Erste Group Research. Tighter monetary conditions might be important factors behind this development. Nevertheless, this development is unlikely to be a negative factor.“In fact, the Czech economy has been slightly overheated in 2018,...

by Prague Morning Sep 13, 2018

Babiš: ‘We Don’t Want to Live in Africa or the Middle East Here’

Czech Prime Minister Andrej Babiš has resolutely stated that Europe must fight for its culture and values amidst the destructive EU migration policy. Pointing out the recent riots in Germany are due to uncontrolled migration, leading to explosive situations. “Chemnitz is just right around the corner!” he said Sunday, describing the disorder that inundated the eastern German city after standoffs between pro and anti-migrant rallies there last week. “I’ve been thoroughly explaining that this is a fight to preserve our European civilization and culture. We don’t want to live in Africa or the Middle East here. We must fight for our values.” “Have you seen the pictures of migrant ships heading for tourist beaches? Europeans are shocked and frightened. The same thing happened in Chemnitz. There was not only a murder committed but also the murders of teenage girls and sexual assaults,” Babiš explained. Babiš stressed on Czech TV channel Prima that the events in Chemnitz exhibit the result of the influx of migrants clashing with native-born citizens. These cases are very dangerous for Europe as tensions in Germany can also affect neighboring countries, he said. Reiterating his long-standing opposition to the European Commission’s efforts of forced migration, he lambasted the current...

by Prague Morning Sep 03, 2018

Czech Banks Speeding Up Transfers

Many money transfers from one bank to another often aren’t accomplished on the same day, and Czech banking law allows them to happen on the following business day. But banks have been starting to change that. Some Czech banks have been voluntarily starting to speed up the process to allow transfers posted in the morning to be completed in the afternoon, without the client having to pay a priority or premium fee. And in the near future, some banks will be experimenting with interbank transfers in real time, with no delay even on weekends. Read the full article here (via Prague.TV) xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ haalandUEFAevertonfutebol ao vivofutemaxmulticanaisonbetbóng đá world cupbóng đá inter milantin juventusbenzemala ligaclb leicester cityMUman citymessi lionelsalahnapolineymarpsgronaldoserie atottenhamvalenciaAS ROMALeverkusenac milanmbappenapolinewcastleaston villaliverpoolfa cupreal madridpremier leagueAjaxbao bong da247EPLbarcelonabournemouthaff cupasean footballbên lề sân cỏbáo bóng đá mớibóng đá cúp thế giớitin bóng đá ViệtUEFAbáo bóng đá việt namHuyền thoại bóng đágiải ngoại hạng anhSeagametap chi bong da the gioitin bong da lutrận đấu hôm nayviệt nam bóng đátin nong bong daBóng đá nữthể thao 7m24h bóng đábóng đá hôm naythe thao ngoai hang anhtin nhanh bóng đáphòng thay đồ bóng đábóng đá...

by Prague Morning Aug 30, 2018

Development Crises: Prague Owns Only 30% of Its Land

Private companies own almost half the total area of Prague, while the city only owns 30%. Deputy Mayor, Petra Kolinska, says that private companies own too much of the city, and this is inhibiting progressive development. “Prague should buy, not sell,” said Kolinska about its land usage issue. Privately owned companies are a critical aspect to development, providing business opportunities and funding for public projects. The more money in circulation, the more money there is available for development. However, this is a simple and limited view on public development. While private ownership promotes development, this approach ultimately leads to private entities owning a significant portion of Prague. Significant private ownership limits the city’s ability to develop. “Land ownership gives the city the possibility to actively develop these areas – the possibility of placing specific public buildings, reserving areas for schools, hospitals, parks or afforestation. Land owned by the city is one of the important prerequisites for the development and construction of the necessary public infrastructure,” according to a press release by the city of Prague. While being pro-business generates money, minimal funding goes towards public goods, such as schools and hospitals. If the city does not own the land, it’s severely...

by Prague Morning Aug 09, 2018

Some Expats Can Vote in Prague Elections

Many expats can participate in the municipal elections, scheduled for Oct. 5–6. The local elections are not only in Prague but across the country and the same rules apply. European Union citizens with residence permits can vote, and they can also run for some local offices including City Council, but not the mayor. In practice, though, running for office is a bit complicated as a signed petition is needed to get on the ballot. The system is also geared toward parties and registered movements or associations, and not individual candidates. The voting rights come from an EU treaty and European Council directive. Read the full article here (via Prague.TV) xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ haalandUEFAevertonfutebol ao vivofutemaxmulticanaisonbetbóng đá world cupbóng đá inter milantin juventusbenzemala ligaclb leicester cityMUman citymessi lionelsalahnapolineymarpsgronaldoserie atottenhamvalenciaAS ROMALeverkusenac milanmbappenapolinewcastleaston villaliverpoolfa cupreal madridpremier leagueAjaxbao bong da247EPLbarcelonabournemouthaff cupasean footballbên lề sân cỏbáo bóng đá mớibóng đá cúp thế giớitin bóng đá ViệtUEFAbáo bóng đá việt namHuyền thoại bóng đágiải ngoại hạng anhSeagametap chi bong da the gioitin bong da lutrận đấu hôm nayviệt nam bóng đátin nong bong daBóng đá nữthể thao 7m24h bóng đábóng đá hôm naythe thao ngoai hang anhtin nhanh...

by Prague Morning Aug 05, 2018

Revenues Gained From Airbnb Are Subject to Income Tax

The Financial Administration is actively seeking data and searching for analytical activities from Internet platforms such as Airbnb, Booking, and Uber. “If we have indications that some income has not been properly taxed, we will ask the entities to file a tax return. However, additional taxation is already linked to a sanction in line with the Tax Code,” GFŘ spokesman Petr Habáň told Novinka. Revenue from the accommodation acquired via Airbnb, Booking, Uber, and other Internet platforms is subject FS income tax and must be included in the tax return. In the event that the rental over Airbnb or Booking exceeds one million crowns in the last 12 months, the owner must register as a VAT payer within 15 days of the last month’s expiration. Airbnb service has been operating in the Czech Republic since 2009. More than a million of travelers have used Airbnb last year for a short-term rental stay. Author: A.M. xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ haalandUEFAevertonfutebol ao vivofutemaxmulticanaisonbetbóng đá world cupbóng đá inter milantin juventusbenzemala ligaclb leicester cityMUman citymessi lionelsalahnapolineymarpsgronaldoserie atottenhamvalenciaAS ROMALeverkusenac milanmbappenapolinewcastleaston villaliverpoolfa cupreal madridpremier leagueAjaxbao bong da247EPLbarcelonabournemouthaff cupasean footballbên lề sân cỏbáo bóng đá mớibóng đá cúp...

by Prague Morning Jul 31, 2018

Employment Rate For Non-EU Migrants Highest in Czech Republic

The Czech Republic, Romania, Portugal and Poland recorded the highest employment rate among migrants born outside the European Union last year, according to data published by the European Statistics Office (Eurostat). The highest rate of employment last year occurred in the Czech Republic (79.4 percent), Romania (76.3 percent), Portugal (74.5 percent) and Poland (73 percent). The United Kingdom had the highest employment rate among migrants born in different EU Member States in 2017 (83.6 percent), followed by Portugal (82.7 percent), Sweden (80.7 percent) and Estonia (80.2 percent). Worst countries for non-EU migrants The employment rate for non-EU migrants was at its lowest in Belgium. Only 52% of residents born outside the EU were in employment, compared to 71% for native-born people. Greece followed with an employment rate of 54% for non-EU migrants. However, the Hellenic country also registered the 28-country bloc’s lowest employment rate for EU migrants (56.1%) and for the native-born population (58.1%). France completed the bottom trio, with just 55.6% of its non-EU population in employment, compared to 72.6% for its native-born population. Non-EU migrants in the EU: According to the latest EU census, in 2011 51 million people lived in an EU member state they had not...

by Prague Morning Jul 30, 2018

Prague Flats 10% More Expensive Than Last Year

The average price of new flats in Prague increased by 10% to CZK 99,400 per square meter by the end of April. This growth rate is actually gradually decreasing as the average price grew by 22.5% last year. According to Deloitte analyst Petr Hana, complete reconstruction of apartment buildings and the increasing growth of markets in the inner city also led to the increasing size and prices of new flats. Altogether, in March and April, the flats were sold for CZK 7.6 billion in 23 projects. Prague 1 is the most expensive district in Prague with an average price of CZK 218,900 per square meter. The cheapest is Prague 4 with an average of 80,000 crowns. Prices increased the most for Prague 1 by 30.2% and for Prague 10 by 26.6%. In contrast, prices in Prague 6 dropped by 6.4% and in Prague 2 by 1.5%. In March and April, developers in Prague sold 903 new homes. Most included Finepo (158), followed by the Central Group (139), UBM Bohemia / Crestyl (58), Ekospol (53) and Skanska Reality (43). The average sold apartment stood at 6.44 million crowns, its unit price was 97.900 crowns per square meter and its size was 64 square meters....

by Prague Morning Jul 24, 2018

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