Prague is the most expensive city in Eastern Europe, surpassing Bratislava and Warsaw

PRAGUE - The Czech capital has become the most expensive city in Eastern Europe in terms of the total cost of living and housing, according to the latest index of the Numbeo database. The index includes not only common household expenses such as food, transport and utilities, but also the cost of rental housing, offering a comprehensive view of the financial complexity of living in the region's major cities.

Prague outperformed other major Central European cities, especially Bratislava and Warsaw, which came second and third. Compared to them, Budapest is significantly lower in the ranking, which, according to analysts, mainly reflects lower rent and service prices, but also the different purchasing power of the population. The main factor driving Prague to the top of the rankings is the long-term rise in housing prices. Rents in the Czech capital have risen significantly in recent years, both for long-term rentals and short-term housing. According to Numbea, it is the cost of housing that is one of the key items that fundamentally affects the overall ranking of cities in the index.

In addition to housing, the high cost of living in Prague also contributes to the high cost of services, gastronomy and leisure activities. Although wages in the metropolis are among the highest in the Czech Republic, economists say the rate of growth is often not enough to keep up with the rapid rise in prices. This has a particular impact on the budgets of young households and people working in the public sector.
Bratislava and Warsaw ranked just behind Prague. Both cities are also experiencing housing price growth, but on average they are still below the level of the Czech capital.

Moreover, Warsaw benefits from a larger housing market, which at least partially dampens the pressure on prices. The Numbeo index is compiled on the basis of data collected from users in each city and is primarily used for indicative comparisons of the cost of living internationally. Although it is not an official statistic of government authorities, it is often used by the media, investors and experts to assess the affordability of living in different regions.

gnews.cz - GH