Prague launches auction for affordable rentals in historic center

Looking for a new place to live? With Prague rents surging and demand sky-high, finding a home in the Czech capital is arguably harder than ever. However, there’s some good news.

The City of Prague has announced that it is offering centrally located, city-owned apartments of varying sizes at affordable monthly rents, giving residents the opportunity to live in Prague 1 without breaking the bank. A total of about 50 rooms are on offer in 20 available apartments.

This will all happen via a simple online bidding auction, which is also open to foreigners living in Czechia. With viewings beginning tomorrow, Oct. 29, here’s everything you need to know.

From Old Town Square to Karlovo náměstí and Malá Strana, the options range from studios to five-bedroom units. Notably, several are dotted around significant Czech landmarks, giving you the chance to have the Astronomical Clock or Havelský Market on your doorstep (quite literally).

Apartments on offer (they are unfurnished) include a 5+1, 158-square-meter (sqm) unit on Dušní Street; a 3+1, a 73 sqm apartment on Karolíny Světlé Street; a 3+kk, 100 sqm home on Malé náměstí; and a 1+1 on the large Železná Street, by the National Theater.

“Electronic auctions allow us to effectively use apartments not suitable for social purposes and offer them. It is a transparent and economical way to manage municipal property,” said Deputy Mayor of Prague for Social Affairs Alexandra Udženija.

Those interested can first view available apartments and rooms on the city’s official website, where virtual tours, floor plans, maps, and detailed descriptions are listed. 

Save the date: the first viewings (you can register for these online) for the apartments take place over three days between Oct. 29 and Oct. 31. 

The auctions will start a few days later. The first round of the auction runs until Nov. 6, and interested parties who meet all the basic conditions will advance to the second round.

Applicants can bid electronically via the online auction portal in one-hour “English-style auctions,” where the price starts at the minimum bid and rises. If a bid is placed in the final minute, the auction automatically extends by three minutes.

To participate, applicants must be either a citizen of Czechia or of an EU member state. Neither the applicant nor their spouse or registered partner may own another residential property or have outstanding debts or ongoing court or enforcement proceedings with the City of Prague.

Current tenants of other apartments can take part, but if you win an auction, you’ll need to terminate your lease before signing a new agreement with the City of Prague.

You’ll also need to be prepared to pay a refundable deposit of CZK 20,000 to bid in the auction. Leases are fixed for two years with the option to extend.