Prague to keep rents flat in its commercial properties for this year

Prague to keep rents flat in its commercial properties for this year


3/1/2021

At its session on Monday, Prague City Council agreed not to increase rents in non-residential properties in 2021. Prague adopted the same approach last year due to the coronavirus pandemic.

“In these difficult times, entrepreneurs need help from the city, which is why we have refrained from hiking the rent which might be fatal for many.” We have adopted the same approach as last March when we decided to cancel a planned rent hike for 2020,” says City Councilor Jan Chabr who is responsible for municipal asset management.

Flat rents for 2021 apply to lease contracts for non-residential properties managed by the Prague City Hall’s Asset Management Department. These contracts include an indexation clause, with an annual increase to be decided by the City Council every year. The percentage must not exceed the official inflation rate as announced by the Czech Statistical Office for the previous year. For 2020, the inflation rate was 3.2%