Real Estate

Housing Permits: 6 Weeks in Warsaw, 13 Years in Prague—What’s Wrong?

As housing costs in Prague continue to rise, policymakers are looking abroad for solutions. Poland’s approach to residential development has emerged as a potential model, with significantly shorter approval processes and policies that encourage large-scale construction. In Warsaw, developers can secure building permits in as little as six weeks, whereas in Prague, the process can take up to 13 years. Poland’s streamlined regulations and proactive government involvement have led to a substantial increase in housing supply, creating a competitive market that has kept property prices more affordable. A key factor behind this success is the Lex Developer Law, which allows developers to build in restricted areas in exchange for investing in public infrastructure such as schools, nurseries, and transportation networks. This policy has accelerated residential expansion while ensuring that new developments contribute to community needs. The results are evident in Warsaw, where the housing market is thriving. Developers like the Czech Trigema led by Radek Menšík have praised Poland’s system for its efficiency and incentives. According to project director Fialková, competition among developers is so intense that companies must actively attract buyers, keeping housing prices in check. In contrast, the Czech real estate market remains plagued by bureaucratic delays and...

by Nusrat Jahan Shuvra Apr 03, 2025

Historic Location Near Agnes Monastery Gets New Luxury Housing

After more than 25 years of delays, a long-vacant lot near Prague’s Agnes Monastery is finally being transformed. The location, once planned for the controversial “Marshmallow” project by architect Zdeněk Fránek, will now feature a high-end residential building—also designed by Fránek. A Historic Site with a Complicated Past For decades, the vacant land at the intersection of Kozí and U Milosrdných streets in Prague 1 remained undeveloped. In the early 2000s, Italian investor Augusto Razetto proposed a new development, but bureaucratic hurdles and public opposition halted progress. Fránek’s initial design, nicknamed the “Marshmallow,” faced strong criticism, preventing the project from moving forward. Now, after nearly a quarter-century of negotiations, the project has secured final approval. “Building in Prague’s Old Town is an immense challenge due to strict permitting rules. But this location, combined with a premium architectural design, makes Rezidence U Milosrdných a truly unique rental property,” said Jiří Vajner, CEO of Creditas Real Estate. The six-story building offers 27 fully furnished apartments ranging from 2+kk to 4+kk layouts. Additionally, it features two commercial spaces, underground garages, and storage units. Monthly rents start at 45,000 CZK. A Design Chosen Through Architectural Competition The final design was selected through a closed architectural...

by Prague Morning Feb 28, 2025

Mid-Term Rentals: A Growing Trend in the Real Estate Market. What Does Prague Offer?

In recent years, mid-term rentals have gained significant traction, particularly among corporate clients and international tenants. This trend is part of the flexible living concept, which enables individuals to live temporarily in various cities and countries without long-term commitments. The rise in demand for mid-term rentals reflects a shift in the housing market, providing a practical solution for business travelers, remote workers, freelancers, and students. In cities like Prague, however, this segment is still developing and has yet to fully match the range of options available in other European metropolises. Despite its growing popularity, mid-term rental options remain limited in Prague, where short-term rentals and long-term contracts dominate the market. What is Mid-Term Rental and Why Is It Attractive? Mid-term rental refers to leases that last anywhere from 30 days to 12 months. This type of rental is particularly suitable for people visiting Prague for work assignments, internships, or corporate projects. For tenants like international employees, freelancers, and students, the need for fully furnished, comfortable accommodation is crucial. Mid-term rentals provide a cost-effective alternative to expensive hotel stays while offering the convenience and quality not always available in short-term vacation rentals, which are often designed with tourists in mind. Prague’s...

by Prague Morning Sep 24, 2024

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