The increasing number of single-person households is significantly shaping the Czech real estate market, leading to a surge in demand for smaller apartments.
Due to high property prices, singles are now opting for one-bedroom apartments, a shift from their previous preference for two-bedroom units. “In the past, they would look for, for example, two-bedroom apartments. Now, especially in Prague, that’s already too much. They are more often choosing one-bedroom apartments,” said Jan Martina, a real estate broker at M&M Reality.
Experts attribute the rise in property prices to the growing number of one-person households, a trend that has accelerated over the last decade. Data from the Czech Statistical Office shows that the share of such households increased from 32% to 39% between 2011 and 2021. This shift is also driven by divorced individuals and elderly people who have lost their partners.
The construction industry is struggling to meet this demand. Over the past decade, Prague has seen the creation of 82,000 new one-person households, but only around 50,000 new apartments were built in the city during the same period. “Unfortunately, no drastic improvement in the situation can be expected even in the next few years, not only due to the long legislative process but also due to the shortage of craftsmen,” explained Josef Lebeda, a real estate purchase expert at Resimo.
This shortage is particularly affecting the rental market, where high apartment prices are forcing more singles to rent. Rental prices have increased by 6% in the past year, with the average cost of a 50-square-meter apartment now reaching 15,500 crowns per month. The two-month deposit required for rental agreements is also becoming a significant challenge for many one-person households, according to real estate brokers.
