Prague's build-to-rent (BTR) market remains stable in the first half of 2026 while preparing for further expansion, according to BTR Group's Living Sector Market Report H1 2026. There are currently 3,400 BTR units in operation across 23 projects, with the total tracked market, including projects under construction and in preparation, reaching approximately 15,000 units. More than 1,000 new BTR units are expected to enter the Prague market in each of 2027 and 2028.
Smaller apartments continue to dominate the BTR segment, with studio and one-bedroom units accounting for 80% of all tracked units. The average BTR apartment covers 49 sqm, compared with 64 sqm for new-build apartments offered for sale. Actual rents in Prague BTR projects averaged 562 CZK per sqm in H1 2026, a 24% premium over rents advertised on property portals, rising to 33% when newly launched projects are included. Monthly mortgage repayments on a new Prague apartment at 80% loan-to-value are approximately half as much again as actual BTR rents, and around two-thirds higher at 90% loan-to-value. "The Prague market is entering an interesting transitional period. Stabilised projects maintain very high occupancy, while a significantly larger volume of new supply is gradually being prepared. With growing competition, product design, management quality and tenant experience will become increasingly important. Institutional rental housing is moving into a further phase of professionalisation," said Zuzana Chudoba, chief executive and founder of BTR Group.
Overall vacancy across Prague BTR projects rose to 5% in the first half of the year, driven by newly opened projects still in their lease-up phase. Projects where leasing began in 2025 recorded vacancy of 13%, while those launched in 2024 stood at 2% and older projects at 1%. "Vacancy figures need to be read in the context of the gradual lease-up of newly opened projects. Stabilised BTR projects continue to maintain very high occupancy, with vacancy of only two percent," said Jiří Kubánek, chief analyst at BTR Group. AFI Home holds the largest portfolio in operation and preparation with 2,155 units, with Mint Living moving into second place. Notable first-half activity included the announcement of the second phase of Rohan City, comprising 240 rental units split between Kooperativa and the MINT residential fund.
The affordable rental housing segment is growing alongside commercial BTR. BTR Group tracks 4,870 units across 23 affordable rental projects in Prague, with nearly 70% still in preparation, and more than 9,000 units across 63 projects nationwide, with municipalities accounting for approximately three-quarters of the total pipeline. "Alongside commercial BTR, we can now clearly see the emergence of a distinct and significant affordable rental housing segment. The scale of projects in preparation shows that institutional rental housing will not in future be solely a private-market product. Cities, the public sector and institutionally focused investors will all play an important role," said Zuzana Chudoba.
Brno has a tracked potential of approximately 4,500 institutional rental units across 30 projects, with co-living growing rapidly: three larger co-living projects with 628 units are currently operating, and around 1,000 additional co-living units are expected to be delivered in 2027 and 2028 alone. Outside Prague and Brno, BTR Group tracks 18 projects with more than 1,900 units across other Czech regions. Construction speed is also highlighted in the report, with SYNER Group introducing the prefabrication-based CREE Buildings system to the Czech market, with the second phase of the Nová Kunratická residential project in Liberec as its first local application. "Construction speed is a significant economic factor in rental housing. Prefabrication allows us to achieve high quality while better controlling the entire realisation process," said Lukáš Urban, board member of SYNER Group.
