1. Underground Tunnels: Beneath the streets of Prague lies an extensive network of tunnels and passages that date back to the Middle Ages. These tunnels were used for various purposes, including storage, shelter, and even as a refuge during conflicts. 2. Astronomical Clock: The Prague Astronomical Clock, located in the Old Town Square, is not only the oldest astronomical clock still in operation but also features a unique mechanism that displays the zodiac signs, the position of the sun and moon, and even a calendar dial with images of the months. 3. Beer Culture: While many know that the Czech Republic has a rich beer culture, not everyone is aware that it boasts the highest beer consumption per capita in the world. The city is home to numerous small breweries and pubs, some of which have been operating for centuries, offering a vast selection of local craft beers.
Prague's housing market is experiencing significant growth and challenges. In 2024, approximately 7,200 new flats were sold in the city, an 80% increase from the previous year. The average price for a new-build flat reached €6,600 per square meter, a 7% increase year-on-year. The city has around 587,000 housing units. Only 4.3% of apartments in Prague are municipally owned, with the city aiming to increase this number. The majority of residents are homeowners, but exact figures are not provided in the search results. Rental prices in Prague have risen by 16% in 2024, reaching an average of €16.60 per square meter per month. The most expensive district for renters is Prague 2, with average rents of €19.20 per square meter. To address housing affordability, Prague is developing cooperative housing projects. The city plans to provide land for these projects and retain about a third of the apartments for needy populations. The first such project near Radlická Street in Prague 5 will offer 221-266 flats. Despite efforts to increase supply, the housing market remains tight. Developers are planning 146,000 new apartments, but only 5,270 construction permits were issued in 2024, far below the 10,000 annual permits needed to meet demand.
The Prague city administration is actively addressing the housing crisis through several initiatives. The city's Housing Development Strategy aims to construct 9,000 new apartments annually and increase city-owned apartments to 35,000 by 2030. The strategy focuses on building affordable, quality housing, developing municipal housing, and collaborating with key players in the housing sector. To achieve these goals, the Prague Development Company (PDS) plans to build up to 8,000 new affordable apartments within the next 10 years. The city is also repurposing unused spaces, such as transforming the Opatov Hotel into 300 new apartments. Prague is developing new neighborhoods, like the one planned near the future Nové Dvory metro station, which will house 5,000 residents. The city is prioritizing construction on brownfield sites and suitable municipal land. The administration is also participating in the national Affordable Housing Program, which provides funding for the construction, renovation, and expansion of affordable rental housing. This program offers subsidies and low-interest loans to municipalities and private entities for housing projects. Additionally, Prague is focusing on sustainability in new developments. The Modřansky Cukrovar project, for example, aims to be the first "blue-green" neighborhood in Prague, incorporating environmental respect and community-building principles.