Czech and Slovak home buyers confront costly, risky market

In Slovakia, about 90 % of people buying an apartment rely exclusively on the seller’s realtor, exposing them to financial risks such as hidden defects or unfavorable contracts. Experts note that buyer’s agents, who advocate solely for purchasers, are used in fewer than 10 % of transactions, leaving most buyers without professional technical, legal, or financial scrutiny.

In the Czech Republic, purchasing a flat in Prague now requires roughly 15 years of average salaries, the highest affordability ratio among EU capitals. Eight out of ten Czechs consider home ownership unaffordable, and the shortage of long‑term rental housing is worsened by the conversion of apartments to short‑term tourist rentals, further driving up prices.

Both markets illustrate growing challenges for first‑time owners in Central Europe, where limited access to independent advice and rising costs heighten the financial stakes of the region’s biggest personal investment.