What parameters to look for when buying a property in Prague for short term rentals

If you’re considering buying a property in Prague with a view to rent it out on a short term basis, this article should assist you in selecting the right type of property in the right location in order to help maximise your returns.

Below are some example criteria you should consider:

• An optimal size is a 2+kk. It should be large enough to fit a sofa bed in (so it can sleep 4 people), but doesn’t need to be larger than 60sqm (40-60 sqm is optimal)
  • smaller properties are also good, but generally demand is much lower for properties that have more than 2 bedrooms
• Should be renovated to a good standard (or new build)
• Ideally the building and apartment should have some “old” features
• The building should be in good condition and clean, not be under permanent renovation and give guests a good feel when the move in
• It can be ground floor, but better to have higher floors (but if there is no lift its better to be on the first floor)
• Should be close to transport links, but noisy trams are less attractive if audible
• The main transport links where potential guests arrive are:
  • Prague airport (thus properties between the airport and the centre are popular)
  • The main train stations, Hlavni Nadrazi and Holesovice in particular
  • Florenc bus station
  • Motorway access from the West, South and South East
• Ideally should be in easy walking distance to many of the main attractions (Old Town square, Charles Bridge, Prague Castle and so on), and if not be close to good transport links
• Central areas such as Stare Mesto, Mala strana, Nove Mesto, Prague 6 are the best locations
• Guests like to feel the old Prague (so when they step out of the building they should feel the real ambience of old Prague)
• Views to castle / roof tops / churches are all good
• A balcony is a bonus but not necessary
• Good windows, bringing in large amounts of light are preferred and they should not be drafty.
• Quiet streets are preferred
• Good to have high ceilings (but not too high as heating costs are unnecessarily high)
• Good to have a separate shower
• It should have a separate (ideally lockable) storage for cleaning equipment/products and spare bedding/towels
• As utility bills are paid by the owner and not tenant is good to have a place with efficient water/electricity/heating and well insulated
• Parking is a bonus, and particularly useful for those guests driving from eg Germany, Austria and other neighbouring European countries

Contact us for more detailed information and market trends.