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by inglor_cz 1612 days ago
A house in Prague will cost you about 600k USD, but the average salary after tax is something like 21k USD.

Welcome to Europe :)

2 comments

Lol exactly. I don’t wanna tout who has the most expensive houses but Prague and Brno win with the average wage / price ratio. I’m already remote for US company and still cannot a flat here due to abysmal central bank rules.
"Weeee are the champions, my friend!"

At least in something.

Yes, Prague is the extreme place to live.
Interestingly, Warsaw is much more affordable. They also build a lot more condos there. AFAIK around 100 000 new housing units were built in Warsaw in span of just 5 years. That pushes the prices down.
In Poland there is anew term called pato-developer, from patological developer. Patologia is a common derrogative for something not good.

The pato-developer thing comes from the fact that many of these new apartment complexes often make huge compromises on quality or amenities. A common complaint is very thin walls or apartments with windows facing a few meters from neighbors. Search in youtube for pato developer and you will see some really comical videos.

It is very not ideal, but even so it provides a huge pressure relief on housing demand and kind of allows young people the ability to afford something to start a family. Real estate is even so often used as an investment but I think with the current interest rate hikes the crazy valuations on the main cities will come down.