A new trend in Prague’s real estate market – co-living
The rise in rental prices in Prague has led developers to a new idea – co-living in attractive locations. In these accommodations, tenants have their own rooms but share common areas and facilities such as the kitchen. Co-living is considered especially attractive for tourists, digital nomads, and students, for whom it serves as an alternative to university dormitories. The main appeal of co-living lies in the price – about half the annual rent, which currently stands at approximately 100,000 Czech crowns.
Currently, one co-living project is operating in Prague – a project called Collectif offers 12 rooms across four buildings in the city, with the most expensive room costing only about 5,000 CZK per month. Another project by the company Zeitraum provides around 400 beds in rooms of various sizes in Holešovice, Žižkov, and Vršovice.
One of the development companies is Accord Invest, which plans to complete the construction of a co-living center in Prague 1. The building will offer residents services not usually provided in residential buildings, such as a café, laundry facilities, and more.
Another company exploring co-living is Trigema. This project is expected to be built by 2023 in Nové Butovice. Although the location is far from the city center, the project will be part of Top Tower – a futuristic skyscraper that will be the tallest building in the Czech Republic and will feature design elements by artist David Černý. Alongside offices, the building will include 250 units with kitchens and shared communal areas – each approximately 18 m².
Another project by Karlín Group, to be built near the Nádraží Holešovice metro station, will include around 700 beds. The company is also considering establishing co-living in the Smíchov district. Earlier this year, Karlín Group CEO Jan Ludvík stated that the areas of Karlín, Smíchov, Holešovice, Žižkov, and Vršovice could also be attractive for co-living centers, although the company is not interested in areas too far from the city center.
Outside of Prague, Brno is the only city where co-living currently exists. The city has the Domeq building, managed by the CTP company, which offers co-living accommodations. However, the idea itself is not new to the Czech Republic, with its origins dating back to the communist era. Based on the social concept of collectivism, the idea included not only housing but also broad services such as kindergartens, canteens, and recreational facilities. The largest experiment in this field was the Kolektivní dům (or for short – Koldům) in Litvínov, northern Bohemia.
