What affects the hire cost of a real estate?

Many people living in Prague today are concerned about the housing issue. In connection with the tightening of the rules of mortgage lending and the rapid growth of real estate prices, the purchase of own flat is not affordable for many of them. Some people might like the option of living in a dorm room, but not everyone is ready for such conditions, so they choose the option of renting an apartment.

For those who wish to rent a property, the question of fair hire cost is relevant.

The cost of rent depends on many factors, for example:

• Duration of the lease:

In general, there are three types of lease:

short-term – this option is the most expensive, usually the search for apartments on such a request is done through specialized portals, the most popular are Airbnb, Booking.

average duration – rent for a period from one month to six months.

long-term – the most profitable type of lease. In this case, the contract is arranging for a period starting from six months. However, the vast majority of the lessors  prefer to rent their property for a period of one year. This is the most convenient option for both parties. For foreigners with a temporary residence permit it is beneficial also in terms of registration, you will not need to change the biometric card and, as a result, spend additional time and money on the immigration police.

• Location of the apartment – the average cost of renting an apartment located in Prague 1 is higher than renting a similar apartment located in Prague 9.
• Condition of the apartment;
• Total area apartment, layout of the apartment;
• Apartment equipment (if fully or partly furnished or is not equipped at all);
• Distance to the subway or to the nearest public transport stop;
• Availability of developed infrastructure;
• Type of construction, where the apartment is located: residence or a normal residential house.

The most popular are apartments with a layout of 1 + kk, 2 + kk and 2 + 1.